A Harsh Reality for Newspapers.

Last year, researchers at the Project for Excellence in Journalism persuaded six companies that own 121 newspapers to share private data about the financial performance of many of their papers. And the findings were grim. On average, for every new dollar the newspapers were earning in new digital advertising revenue, they were losing $7 in print advertising revenue. The papers seemed not to be diversifying their revenue streams or coming up with innovative products at a fast enough clip. [ABSTRACT FROM PUBLISHER]