I don't think it's just deregulation; the biz has changed due to technological innovations. Content is now delivered in many different ways, the Internet and phones being the latest.
Technology may play a part in the change, but the consolidation and cutting costs and product quality in favor of profit is much more in focus for today's major radio property owner. Back when David was at WICC the station's owner, Tribune, made sure there was plenty of talent in their stable ... and not just on-air personalities! WICC's news department won numerous awards for their news reporting and, dare I say it, they WERE the station to tune to when you wanted to find out about news in Southern Connecticut.
If David is still doing news it's a wonder, aside for full news and perhaps to a lesser extent news/talk stations, that there are still jobs for news people. Big corporate owners cut news departments to the point where stations don't even have a news department as I cited earlier. Some groups have regional news centers where pre-recorded news briefs (again, with little to no news actuality audio) are sent to their stations. For people who want to know what's going on in their community this sub-standard excuse won't cut it.
When stations begin to see their potential listener base starts to shrink (or die off) they may actually wake up, but I'm not betting the farm on that one. When I have to listen to a station in New York to get Connecticut news and traffic the writing's already on the wall.