What's Going To Happen To The 'Local' In Local Television?

[Commentary] In this age of personal Web sites, MySpace and Facebook, is local television dead? When you can take a $100 digital camera and create a Web-worthy video for your friends to see on their own schedule, are we raising a generation that will bypass local television entirely? If content is king, where will the next generation of local television content originate? In February many local stations will have the ability to broadcast one, two or three sub-channel signals with the hope that local audiences will tune in. Will the stations try to lure viewers with higher quality local news? Will there be four simultaneous newscasts from each station, geared toward various demographic groups? Or will the content come from the broadcast network holding companies?