...print may still be producing a large proportion of revenues for newspapers, but it is also the source of a large proportion of the costs at any traditional media company, and that spells doom if you are competing with digital-only publishing outlets such as AOL and Yahoo.
... Above all, Paton says, media outlets need to become digital-first, because the print side is only dragging down their businesses and preventing them from being as competitive as they should be. So far, that’s a message too few traditional newspaper publishers have heard.
There's a Danish saying: "let fall what won't stand". And if the income of print editions can no longer support the Manhattan skyscraper offices and huge print/distribution systems they used to...
Online content can be produced at much, much lower cost, so there's no reason it should not be at least as profitable. Well, OK, maybe one reason: there is much more competition, you will no longer have a virtual monopoly when you have the one newspaper in a town. So I guess they'll have to do a good job too... :-)