As Brookings notes, "overall the economic devastation would be difficult to exaggerate," with regard the shift from print to online journalism - as the following chart sums up in all its devastating reality... it's a new world.

"...putting newspapers online has not remotely restored their profitability..."

"Now, however, in the first years of the 21st century, accelerating technological transformation has undermined the business models that kept American news media afloat, raising the possibility that the great institutions on which we have depended for news of the world around us may not survive."

Source: Brookings