A time-frequency multiplexing (TFM) method is described for transmitting two television signals over one satellite transponder, which gives significant improvement over existing methods. The general philosophy of TFM is described, including the benefits of using a difference signal to reduce the overall required bandwidth. Also discussed is companding of the difference signal as a means of improving the overall signal-to-noise ratio. Several alternative methods of implementation are considered, along with those which have been explored in some detail.