BusinessWeek: Requium for Old-Time Radio

"...the local paper's Web site is almost always the dominant local online entity. Newspapers churn out tons of original content daily. Radio is built to a large degree on music it doesn't own and syndicated talk shows. Both are available in countless venues online, which means radio Web sites have less unique stuff to attract audiences. And stations aren't structured like newspapers. While their profit margins are much higher—try 40% and up—they also have much smaller news organizations and fewer bodies to create new content that can be slapped up online."

You can read the full article by Jon Fine at BusinessWeek.com