After years of losing audience and revenue, local television news appears to have settled into a kind of equilibrium. Stations made less income in 2011 than the year before, but the decline was about what might be expected in a non-election year. And the overall audience for local TV news grew as stations added newscasts at different times and on additional platforms, including their digital channels. Local stations also expanded their online, mobile and social media offerings, but most have not yet generated a substantial audience.

Consider it a sign of the times: when Time Inc., the country’s largest magazine publisher, went looking for a new chief executive officer last year, it turned to an expert in digital advertising. In December 2011, Time named Laura Lang, then head of digital ad firm Digitas, to run its magazine operation. Lang had no previous background in magazines.

With digital ad revenue projected to overtake all other platforms by 2016, it is the key to the financial future of news. Are news organizations transitioning their legacy advertisers to online platforms? A PEJ report analyzing more than 5,000 ads from 22 news outlets offers answers.

After a couple of difficult years, finally there was some good news for local television. Thanks to the economic recovery and a busy election year, revenues rose sharply in 2010. As more stations continued to add newscasts in new time slots, the overall audience for local TV news actually held steady and new delivery platforms, including mobile, raised hope for the future.

After two difficult years, the magazine industry in 2010 managed to significantly slow its decline.