The same dynamic happened in radio. Broadcaster/owners were replaced by investors. Broadcasting companies became marketing companies, with the focus shifting from attracting an audience to attracting advertisers. The number of well paying on-air jobs went from two or three per successful station to a handful per market, at best. The industry niched itself into narrow formats, gathering them together to form big, multi-station companies, bowing to the "economies of scale" god.

Radio and magazine audiences have followed a similiar path of seeking alternative sources for info and entertainment. After a while, a few big stations and periodicals will remain and the rest will evolve. The refreshing thing; the new media is allowing for the innovative passion of actual broadcasters and writer/editors to be accessed. We just have to look for them a bit harder.