Well, tell me something I didn't know:
The Internet is transforming the news business into something different, but no one knows quite what, and only visionaries and hard-skulled business people grasp what could be. Like every revolution, this one is causing casualties, the guillotinings this time seen in lost jobs, even disappearing newspapers.
[. . .]
Newspapers in particular are undergoing fundamental changes as they struggle with falling print circulation, even while reaching more people than ever online.
The potential is enormous, but the financial reality has been lower advertising revenue and staffing cuts. Until a new model for paying for news online emerges, original news content creators continue to support themselves largely with off-line, print revenue.
The operation was a success, but the patient died.
