Pros
The biggest pro is that you can say you worked in a top ten market. There are people there who have been there for 20+ years, but that day and age of broadcast has come and gone. None of the newer folks will be there in 10 years. Compensation is decent (on the whole) but now KHOU is owned by Gannett; when I worked there they were owned by Belo. I learned a lot during my time there, some from good experience, some from bad. If you're smart you'll learn to use the limitations of broadcast to be more creative in executing an engaging product. I was given plenty of time to learn in my position, which I held on a much smaller scale in a different market. My supervisor was amazing, but I had many experiences with others in different departments that were definitely not-so-great.
Cons
Lots of ego in that building. If you work in news or production, be prepared to fight for vacation and holidays. There's a very big "do more with less" mentality; though I suppose that's the TV business everywhere, it's just a little harder to swallow in such a big market. Health benefits (under Belo) were decent to good.