NEW YORK—Consumers of local broadcast news continue to deem it as a valuable source of information—whether it’s political races, local sports teams or weather—regardless of accessing it on their TVs or digitally, according to a new study conducted ...

Across the country, the kinds of budget cuts that have decimated newspapers over the years are now slicing into local TV news stations. A trend of TV news layoffs “is only just the beginning,” one broadcast trade publication warned in a recent headline.