There seem to be a few memes that persist in the TV media world even though there is no data to back them up. One is the "Oprah ratings down because of Obama endorsement", another is "Look at all the people cutting the cord" (i.e. cancelling their subscription TV service).
Recently it's been spun as an after effect of the economic problems, in today's LA Times cord cutting is touted as a combination of technology and consumer choice, which of course it is, and the anecdotal examples are charming, but the problem is the data just doesn't support the fact that it's a general phenomenon.
In fact, total subscriptions to cable/satellite/telco TV services continue to grow slowly, as they have for many years.
Who knows what will happen in the future, but it's not happening now!