I have a "three pronged plan" to black out the "legacy" media. All are within reach. The time frame to complete the project might be a few years away but there is a lot that can be done practically overnight.
First, set up a software TV station on the internet.
Second, make that station "distributed" ie peer-peer so that there is no huge bandwidth charges.
Third, transition that station from internet only to a internet/traditional-type one.
First stage is more or less done. I put something together at
http://verticalresearch.com/tvstation/ . I haven't made much effort to do any real good programming, more of a proof of concept. Problem is that my bandwidth/license allows me only 100 simultaneous connections and, let's just say, insufficient bandwidth for steady watching/listening. I'm paying for the bandwidth for a month to see if there is any interest in moving ahead with a project of this sort but I couldn't begin to deal with 1000s or 100,000s of viewers so .... remember, this is "live" so everyone is seeing/hearing the same thing at the same time.
Second stage. Distribute the resource load. Fortunately, the technology is there, free, easy, and open-source. Basically a add-on for most browsers. We would need eg a few hundred people to act as "seeders" in order to prevent a single point of failure/censorship. StreamTorrent and SwarmPlayer.
Third stage, establish an alternative internet - wireless, and legal. Again fortunately, the tech exists and so does the protocols and infrastructure that are necessary. This entails a simple license (ham radio) and a USB device to transmit over the ham radio band. Look into GNU-Radio. This has the benefit of establishing alternative communication in local areas in the event of disasters where the internet is down.
Of course, content is necessary - the software I'm using for the tvstation allows anyone with a laptop, webcam, and microphone, to become a live reporter. Adobe Flash Media Live Encoder is free, sophisticated, and multiplatform. Other software can be used alternatively but it doesn't matter as long as there is something.
Finally, I can integrate a multi-line phone system into it which can then be used for phone-in type talk shows, etc., conference calls.
I've written quite a bit more about it, I'm on the board of directors for a local community/university radio station and we've been investigating this sort of stuff, we have a real FM broadcast license but we're looking at going increasingly digital/online so we've been looking hard at the possibilities.