As if nobody ever read the newspaper while the radio is on. Or watched the tv and listened to the radio. Or talked to other people while scanning the newspaper. All of that is old as dirt. Come on...
At least for sports, muting the TV and listening to the radio broadcast of the same game can greatly improve the experience. Muting the weather channel and a few others is already a net gain even without the radio.
Not OP but I think that the comment about both TV and radio on at the same time was more generic than that.
I'd argue that it's a known fact, at least for anybody that follows any mainstream sport, that sports radio commentary is a lot more exciting that its tv counterpart.