The new Pew Center study on news indicates the vast majority of Americans consume news every day. That pattern hasn't changed markedly over the years. What's happening, of course, is that traditional media (radio and newspapers in particular) are declining and the online medium is ascending.
TV is the dominant news medium.
But the arrival of the Web is still a fledgling phenomenon: The Web-only audience for news is minor --- the vast majority of Web users are consuming other media, too --- and the overall Web audience hasn't expanded the news-consuming universe.
The consequences are significant in many respects for media as they attempt to create new business models in the digital sphere. If the audience loss in the premium-advertising medium declines at the same rate as the gain in the cheaper-advertising medium (and that isn't even happening), the challenge to pay for content and distribute it will be tougher in years to come.