The news breaking every day and every minute makes it possible to miss the local news drought advancing all around us. Hundreds of papers have closed and tens of thousands of reporting jobs have been cut to satisfy a starving bottom line. On this week’s On The Media: the local news business, at the intersection of transformation and annihilation.

1. Penny Abernathy [@businessofnews], Knight Chair in Journalism and Digital Media Economics at the University of North Carolina, on America's "local news deserts." Listen.

2. Bob [@Bobosphere], on the rise and fall of the ad revenue–supported newspaper business model, with Cynthia B. Meyers [@AnneHummert], Craig Forman [@cforman], Jeff Jarvis [@jeffjarvis], and Siva Vaidhyanathan [@sivavaid]. Listen.

3. Rachel Dissell [@RachelDissell], investigative reporter, spoke to us on April 21 about what her sudden joblessness means for her beat and her community. Listen.

4. Steven Waldman [@stevenwaldman], president and co-founder of Report For America, on his efforts to funnel non-profit money into much-needed reporting jobs across the country. Listen.

Music from the show:

Newsreel - Randy Newman / Cello Song - Nick Drake

Death Have Mercy/BreakAway - Regina Carter

I Moaned and Moaned - Regina Carter

Totem Ancestor - Kronos

Liquid Spear Waltz - Michael Andrews

Tribute to America (Medley)- The O’Neill Brothers

A Ride with Polly Jean- Jenny Scheinman