Yeah, what happens is that when stations are all owned by one company, they institute cost-cutting methods by simulcasting shows across the country, hence the loss of jobs. Sometimes stations also use syndicated shows, such as Ryan Seacrest's shows which are replacing many shows across the country as well.
Within the parent company, there has been a great deal of cost-cutting even in upper management, nowadays we see GM's (general managers) and PD's (Program Directors) managing several stations at the same time.
With all the merging, syndicating, there is a loss of "localized programming" where you have a station that actually reflects the concerns, events, personalities of the market it is in. It is similar to how stores now are driven by chains, eliminating many mom and pop stores across the country. If you drive from one city to the next, you find the same stores: Starbucks, Targets, Wal-Mart, etc.