It is popular throughout the blogosphere to point out traditional media companies are in trouble. The most common theme is that these dinosaurs will die off; eventually replaced by online companies who 'get it.' Into that discussion, here is a little factoid to contemplate:

Of $2.7 billion spent on local online advertising last year, newspapers nabbed $1.19 billion, and TV stations got $119 million of the ad pie, according to media-research firm Borrell & Associates.

It is true that television stations and newspapers have a serious challenge and I don't mean to imply that they will prosper. But these media dinosaurs (who mostly focus on local audiences) are getting almost 50% of local online revenue. I wonder how much of the pie they will receive after they 'get it.'