What's Black and White and Red All Over: the Newspaper Industry

Here's a link to a New York Times story about how the newspaper industry is going "from bad to worse" with double-digit ad revenue plummets:

On top of long-term changes in the industry, the weak economy is also hurting ad sales, especially in Florida and California, where the severe contraction of the housing markets has cut deeply into real estate ads. Executives at the Hearst Corporation say that one of their biggest papers, The San Francisco Chronicle, is losing $1 million a week.

Over all, ad revenue fell almost 8 percent last year. This year, it is running about 12 percent below that dismal performance, and company reports issued last week suggested a 14 percent to 15 percent decline in May.

If you're still writing for newspapers as anything more than a hobby or outlet of self-satisfaction, it's time to rethink your business model - quickly.