The decline of local news TV programming

Everyone I know has decided that newspapers are dead. The bandwagon consensus is there is no room for local newspapers in a digital world as the costs of print have gone up and audience is on the wane.  So for the professional marketer is TV and Radio the answer?  Does the economy of scale makes TV the place to focus?

Local network TV lives and dies in the ratings according to its news programming.

The data suggests that audience attention is moving away from local television news faster than the current decline in newpaper audience which has leveled out (still sliding but not as fast).

The attached images from  speak for themselves.  The key metric in each of these studies is that the audience in real numbers has been steadily declining since 2007 and on a steep downward path in the last two years.  While no study I can find  creates a direct link the  increase in the amount of attention focused on mobile exactly parallels the  decline in local TV news viewership.