Here is an article at TVTechnology http://www.tvtechnology.com/news/0086/broadcasters-ponder-post-mpeg--world/222961
I have a minor difference with the writer, he implies that going from MPEG2 to MPEG4 is a leap similar to analog to digital and I disagree - transmitters are already digital all that is needed is to change the encoding from MPEG2 to MPEG4, possible a software or at most replacement of only part of the MPEG2 hardware.
The larger issue IMO is the tens of millions of HDTVs that do not support MPEG-2. I don't know how many are using OTA, but it's not an insignificant number...and we just completed the analog-to-digital conversion not long ago.
Only way I see it working is that they put the requirement to support MPEG-4 or HEVC in new sets. Then after a couple years let stations do sub channels in the new format. They would probably have to wait 10 years for a full conversion.