NY Times coumnist Joseph Nocera considers the effect of the Internet on the newspaper business. His conclusion:

My general view has been that [businesses that] can't adapt to the Internet deserve their fate. But in the six months I have been in the newspaper business, I've learned to have some sympathy for those who are staring down the barrel of the Internet.

It is very hard to see how any business based solely on revenues from Internet click-through ads can finance serious newsgathering and newsfiltering.