I would add more to this post from Jeff Jarvis: Hard economic lessons for news, but he does a pretty good job of summing up the state of the journalism business, so I won’t!
My favorite sections:
* Tradition is not a business model. The past is no longer a reliable guide to future success.
* Disruption is the law of the jungle and the internet. If someone can do what you do cheaper, better, faster, they will.
* The question about pay walls is whether they are the *best* way to make the *most* money. It’s not a religious matter. It’s a practical question of whether circulation revenue will net more than equivalent advertising, whether one can afford to give up audience and growth, what the costs are to support pay.
* We have not begun to explore new definitions of news.