TrainTrac, Regarding the radio news, the information I've heard (and I'll grant that I don't know the source of this, and therefore can't speak to the bias of it--but it makes a lot of sense to me), many feel that that speaks more to the type of individual who would be likely to listen to a medium like AM radio. It's definitely an older, whiter, and more conservative group--so it's logical that the conservative talkers would find more success there than the liberal ones.
Regarding the televised news, my personal feeling is that this is likely a case of Fox having a virtual monopoly among viewers who are seeking a more conservative tilt to their news reporting than either the middle-of-the-road or left-leaning news outlets tend to give, while among the rest of the networks (both cable and broadcast), there's a splitting of the audience. And if you look at it from that perspective--CNN, MSNBC, CNBC, and HLN, when combined, are substantially beating Fox News. And that doesn't even yet include the broadcast news outlets, which (as "liberal" media per the claims of Fox supporters) drastically increase the margin.
Cable news
February 2009
MTWTFSS 08:00P - 11:00P
Fox News 2,404,000
v
CNN 1,156,000
MSNBC 949,000
CNBC 310,000
Headline News 670,000
Total of the "liberal" cable channels CNN/MSNBC/CNBC/HLN--3,085,000
Broadcast news
Average viewership for week of 2/16-2/22
NBC--9,988,000
ABC--8,406,000
CBS--6,730,000
Total average viewership for the "liberal" broadcast networks--25,124,000
Total average viewership of the "liberal" newscasts (cable and broadcast): 28,209,000
Total average viewership of the "conservative" newscasts (cable and broadcast): 2,404,000
Who was it again that you said is getting trounced?
Don't get me wrong--I realize that this goes, in large part, to what type of people watch broadcast vs. cable news, rather than what people are necessarily looking for in the quality of their news reporting. But that's the exact point I was making about AM radio as well.