I'm less sceptical than the vast majority of posters here about this.
First of all there is nothing evil about them choosing not to give their product away for free. Many of the posters here seem to think that because they want paying for their work that they are evil in some way!
And I imagine they've thought this through... Sure, if they simply stick up the same news that's available anywhere else and try to charge for it then this will certainly fail. But hopefully they have enough sense not to do that.
Imagine instead though that at the bottom of each major article in the print newspaper they have a code, something like "See code 123XYZ" online for more information on this subject. That if you for example read an article about the situation in korea, that it links to a page with the history and analysis of the situation there by proper writers. And to links to all the previous articles, not just automated keyword links but a proper index written by an actual journalist. It could be pushed quite heavily in the print newspaper, and could have deals where paper subscribers get online subscriptions free for 3 months then reduced price. The point is to integrate the two parts so that the print part is lighter and easier to read but "hyperlinks" to a much deeper version online, and the expectation would be that you would subscribe to *both* generally.
The problem with "free" news sites is they are very superficial. Because that matches their readership. They just want to know the news and move on. Pages of analysis of the news and the history written up properly will only appeal to a tiny minority of their readers, but on a subscription site it's likely that people have subscribed exactly for more in depth coverage than they could find in a printed paper, or on a random free news site.
People on slashdot complain about news coverage being superficial but this could bring together enough people who are willing pay a little for deeper coverage. If that's profitable then it will happen...
I certainly think this could work for them. At present the online part probably makes little money from advertising, has significant production costs, and steals people who would other wise have paid for a print version. If they do this right they they will spend a bit more money on it, but have a much better combined offering where the print and online versions don't compete with each other in the same way.
But they'll probably just put the paper version online with a few extra bits, and hope people send them money...