Paper or Internet?

"Seattle Post-Intelligencer Faces Closure if Buyer Isn't Found Soon"
-Shira Ovide
The Wall Street Journal
http://online.wsj.com/article/SB123153462765669141.html

Hearst Corporation announced that it will be selling the Seattle Post-Intelligencer (P-I) due to large losses, which it blames on the current economic situation. Hearst stated that if the paper isn't sold in 60 days, then the P-I will close or become an online publication only. It seems as though the recession has hit many publications, as Frank Blethen, Times CEO, stated that it is possible that the P-I closing could increase the chances that the Seattle Times can survive the current economic crisis. Although the situation seemed evident, the article states that employees took the news hard, shedding tears over the announcement.

I found this article to be particularly interesting because I'm not sure that the economy is the sole reason for the lack of newspaper sales. While I believe the recession is a partial cause of loss of revenue for the P-I, I think that changes in technology and social practices also contribute. People aren't giving up their knowledge of the news or current events, they are giving up their newspaper subscriptions because they can get this information elsewhere. Online news sites such as MSN, CNN, etc. make it possible for customers to give up their physical paper version of the news.