I also think that a lot of people on these boards get a little punchy with the "AM is dead" theory.
While AM, and especially big city legacy 50-kw stations on clear channels, is far from dead, it is doing a slow fade that is, apparently, following population demographics.
What we are hearing from very reliable sources, who get to see all the data, is that up to 80% of radio listeners NEVER listen to the AM band.
We are also hearing that most people under 45 NEVER listen to AM. So in most places, most AM listeners will be out of the demographics that advertisers want in a few years, if that hasn't happened already.
If these trends weren't true, we wouldn't be seeing big players like Greater Media or CBS simulcasting sports talk, or all-news on FM.
Other than the 50-kw stations, most AMs have very small audiences compared with FMs, and it was surprising last week to find out how few AMs in NYC actually pay for Arbitron's rating services. It's only WFAN, WOR, WABC, WCBS, WINS, WEPN. The other stations aren't players and aren't in the same game.
For the most part, AM stations are declining assets that will be worth less next year than they are now, as the audience ages.
In many cases, the transmitter sites are worth more as real estate than as radio stations and that may prove to be the ultimate end of many multiple tower directionals on lots of land. All things must pass, and like the typewriter, the 45-rpm, and the dial phone, AM radio's best days are probably behind it.