Will the struggling newspaper business survive? No. And yes.
Let me explain. Several days ago, the New York Times media reporter Jim Rutenberg wrote an elegy for the age of newspapers, by which he meant ink spread across the reconstituted pulp of dead trees and trucked hither and yon to be deposited on the porches of grateful readers. News will survive, Rutenberg told us, but the medium through which that news appears will soon be entirely digital.
Yet, as Rutenberg also pointed out, here we are some twenty years into the era of digital news—and advertising revenue from print editions continues to be what keeps newspapers afloat. “I don’t think there’s anyone in the industry whose majority revenue is not still print,” theMinneapolis Star Tribune publisher Michael J. Klingensmith told him.
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