Comment Re:There Is No News Crisis (Score 2, Informative) 323
In the very near past, newspapers were making profit margins of 30%, today they are still making margins of 10%. The problem isn't that they are unprofitable (they are more profitable than health insurance companies - 6%), it is that they over extended themselves when times were good.
http://online.barrons.com/article_email/SB125633654783004637-lMyQjAxMDI5NTI2NDMyMzQ2Wj.html?page=sp
Yes, they will have to update their business model to reflect the realities of the digital world, but most of their woes are related to making less of a profit than they had expected. There is a big difference between making less of a profit and not making any profit.