At AEJMC, there was a bit of a debate about local media and their ability to withstand the mobile onslaught. I am of the opinion that even the smallest community newspaper will eventually have to confront this. Here are two articles to consider. The first is about Facebook about to launch its geolocative service (imagine the potential for advertising there).
And this is the Dave Morgan article linked to in the above post
The comment attributed to the ValPak person in the comments area is worth considering.
Which then raises the questions for many j-schools - if, when and how do we get into the "mobile" game, which is a different world from the Web world we know.