@SarahGen-- You're right and the opportunities for profit, that is advertisements have increased too. A newspaper may allocate its advertisements for local businesses in print, but on the net, the advertiser can be anyone. There are ad services that specialize online ads based on the geographic location of the visitor, so that resolves a lot of issues when it comes to advertising on the media market.
There may be a day when the media market mostly consists of online media. As of 2014 though, there are still a lot of people who prefer to buy their newspaper and choose local news over national or international.
And let's not forget TV and radio. I don't think that radio will every lose its place in the media market. And long waits in traffic without those silly radio ads just wouldn't be fun.