As someone who's worked in both local and national news, I can tell you that there is a big difference in pay between the two. Local news outlets simply don't have the same budget as national networks like ESPN. That being said, there are still some very well-paid local reporters and anchors. It really depends on the size of the market and how competitive it is. In a smaller market, you might not make as much as you would in a larger one, but you can still do quite well for yourself.