Radio is in a very interesting state right now. Companies on the verge of collapse. There will be changes, and AM may still die. Not because of their failure, but because the successful AM programming of News/Talk/Sports will all shift into FM to take the place of music stations that are no longer viable as young people stop listening to the radio for music.
I have to disagree here!
Remember, with news, talk radio and sports, you don't need the high quality sound so necessary for music. As such, with can get with the limited audio quality of AM because unlike FM, AM signals travel well beyond line of sight, which means you can hear the signal well over 100 miles from the transmitter site in daytime and often thousands of miles from the transmitter at night. (Indeed, for many years one reason why the St. Louis Cardinals had so many fans was the fact KMOX's radio signal literally blanketed the entire Midwest with its 50,000 watt signal.)
In short, FM is literally dying, while AM will continue to flourish because of its long range transmitting capability.