Certainly most arguements regarding monopolistic consolidation of the media are specifically pointed at Clear Channel and their gargantuan hold on the radio audience across the nation. There are many - myself included - who feel that the music business has stagnated in most formats, due to the 800-pound Clear Channel gorilla and those other large firms who compete directly with them (Cumulus, Infinity, Cox, Radio One). Most people know that to find truly "new" music, you need to listen to college radio or go onto the internet any more. Until CC can be convinced that they are losing market share, that model won't change. CC (unfortunately) drives radio in this country, and thanks to their massive presense, this position won't change any time soon.
All those things being present, it (CC's massive presense) does not have anything to do with your points regarding news.
I am as right wing as you can get but I get 3 hours of Rush and then get another 3 hours of Sean Hannity doing his version of Rush's show. Hannity (and others) just repeat issue that Rush just covered for the most part.
You also don't get competition in the format because instead of competition you have segmentation. The giant consolidating media company will have one news channel, one easy listening channel, one rock channel, one talk channel, etc. and they fragment and segment the market so they don't directly compete. So ratings don't matter anymore like they used to.
Lots of things wrong with consolidation and that was some of it, as far as I can recon.