While the Macy's 4th of July Fireworks Spectacular was definitely spectacular (see the photos), the show's organizers moved the displays further south, closer to the Williamsburg Bridge, in order for more of the NYC skyline to be seen in the TV broadcast. Not only did NBC broadcast from Brooklyn, but NBC also added a chyron (graphic) noting that the fireworks were taking place near Stuyvesant Town at least seven times during the half-hour show.
The only other graphics were to note what songs were being played--no graphics about the fireworks being over the East River or how the crowd shots were in Brooklyn. Is it a mere coincidence that Stuyvesant Town owner is Tishman Speyer, which happens to own and operate Rockefeller Center, which is where NBC's headquarters are? After all, Tishman has wanted to bring in more market-rate tenants to Stuy Town and what better free advertising than implying the fireworks are right near by?