Eric Boehlert has written a very good article on radio for the NY Press. You should take the time to go and read it!
When recently asked about the ramifications of the mega-merger with AM/FM, Clear Channel president Randy Michaels told Billboard, "As local owners who tend to play their favorite music get forced out by people who are focused on shareholders' value and therefore understand we have to move customers' products, meaning we have to attract larger desirable audiencesñwe're intensely focused on serving the public."