Actually, quite a few folks still watch or listen to news, but even FNC adamantly states that "The Factor" is not news, neither is Sean, Glen, or Greta, as they occupy the "infotainment" side of the network.
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I give them 5-10 years to be gone. I don't know anyone under 30 who really watches TV or listens to terrestrial radio, especially news shows. My kids only use the TV to stream online media and watch movies from a hard drive or a DVD. They probably spend twice as much time chatting and gaming online as watching the "idiot box" (that may not be a "good" thing).
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That would be an interesting social change, where programming becomes so fine tuned and personalized that there will be a diminishing population of people with a "shared experience." For instance, more people knew about the "Yada-Yada" episode of "Seinfeld" than the episode of "Curb Your Enthusiasm" with Stephen Colbert. Broadcast versus cable. As content gets more pinpointed, there may be less of that common experience to discuss.