There are two things that need addressing here:
First, radio used to have the resources and flexibility to get the story first. Newspapers got it in more detail, but the whole "dead trees" thing was correct. They had to wait to publish. The Internet has changed all that. Radio still could do live shots and have an immediacy that the newspaper site couldn't match, but they simply don't have the staff, or the desire to fund it. As far as the "fast vs. right" thing is concerned, newspapers wrote history. Radio WAS history in the making, and anyone who's ever found themselves in the middle of a new story knows, the context can change over time.
Secondly, the Buffalo News DOES use a paywall. Yes, you can read up to 10 articles a month, and there's plenty of free content available (and ad-supported). If you're more than a casual reader, you need a subscription to access the really in-depth content.
As far as The News putting the story on social media and "giving it away", it just ain't so. It's no more "giving it away" than the old newsboy shouting "Extra, Extra, Read all about it - Kane not going to court." 240 characters ain't exactly "the whole story". It does drive people to the site, however - including local radio "reporters" (actually, more like aggregators, or outright plagiarists).
The News is staying afloat in the age of digital media by using ad-supported content as well as a pay wall. Striking the balance between "free" (ad-supported) and paid (subscriber) content is the voodoo that most outlets who actually created content are struggling with in the digital age.
WBEN's news department is a shadow of its former self, and not particularly well-funded. Ask Steve Cichon why he left after 20-ish years, journeying from intern to News Director. The money ain't there, and neither is the commitment from management. At best, radio news is an internship for TV news for people who don't scare the camera. In fact, more of today's young TV reporters would benefit from the voice development that radio offers. I swear that some of them should be locked in a room and forced to listen to themselves. Maybe they'd improve their vocal skills.