I stopped owning a TV so there`s my personal answer on that one. :)
But really, I don`t think you can distinguish which of those media outlets are more effective than the other on a general level. There are too many variables to consider.
Nikole brings up a great point. I`ve been reading lately about the shift in marketing/advertising from the "put it in front of the consumers" mindset to the "let consumers easily find you" mindset. These days, consumers are seeking out the content, products, services they want and need. It all has to do with the focus on niche markets.
I don`t think it matters which media format an ad takes as long as it is positioned for the right people to discover. The question is no longer how one can reach a large group of people, rather how one can reach the right people.