AM and FM are declining. New media radio is surging. The issue is more about which companies and stations will transition well into new media versions; "radio" is not dying... just its oldest distribution channel is.
Hear we go again with the definitions.
When someone says "radio" to me I envision a physical property containing an RF transmitter, STA, antenna, studio, personnel and media. The medium is RF, not landline and not Internet. Somebody in his basement "netcasting" on the Internet is not radio even though the programming mimics that of radio.
If I am listening to WCBS on a radio frequency receiver I am listening to radio. If I am listening via a receiver card in my PC I am listening to radio. If I am listening to a WCBS stream over the Internet I am listening to a radio program but I am not listening to radio even though the program is originating in a radio station. Just as there are specific and numerous distinctions between TV and radio, even though both operate via RF, there are those same distinctions between radio and streamed programming via the Internet (or recorded media or juice cans etc.).
The terms "webcasting" and "netcasting" were invented to describe programming delivered via the Internet.
BTW, my original post was titled to illustrate the lack of radio in a certain geographic area and not to describe a dying industry.