I did reporting at KQED and the only reason I gathered was that it’s easier – when you’re standing or sitting (often no table), holding a mic or otherwise dealing with recording, you’ve got a bag on your shoulder, you’re often in a crowd, ..... – basically you’re managing a lot and it’s physically easier to hold and jot down notes on a firm, narrow tablet. Imagine trying to hold and write on a big clipboard or normal-sized pad. Also, it’s socially less awkward, and possibly less intimidating in interviews – you can easier maintain a casual/intimate tone.
I just checked Wikipedia: http://en.wikipedia.org/wiki/Reporter’s_notebook, which confirmed what I thought, and added that it can fit in the breast pocket (obviously male-specific so I didn’t think of it!).