From no less than The New York Times:
Is anyone out there still listening?
The digital age is killing AM radio, an American institution that brought the nation fireside chats, Casey Kasem’s Top 40 and scratchy broadcasts of the World Series. Long surpassed by FM and more recently cast aside by satellite radio and Pandora, AM is now under siege from a new threat: rising interference from smartphones and consumer electronics that reduce many AM stations to little more than static. Its audience has sunk to historical lows.
Is he also going to open up a series of buggy-whip shops?
Interesting idea; not sure if technology is available now, but in theory, you can use am signal to propagate digital signal. Something like Google Balloon project, but with AM stations.
Framework is already there