1st - Viewship (readership) doesn’t mean profit - ever.
2nd - The target demos advertisers want and the ROI they demand are leaving old media faster than you can say ISoldBroadcastDotComtoYahoo!ForWayTooMuch.
Finally - The combination of DVR on the cable boxes of key consumers and online streaming content being available while cable companies raise rates year after year without consumer choice creates a perfect storm for major changes in media.