Decline of newspapers

The decline of newspapers has been widely debated, as the industry has faced dropping newsprint prices, slumping ad sales, the loss of much classified advertising and precipitous drops in circulation. In recent years the number of newspapers slated for closure, bankruptcy or severe cutbacks has risen, especially in the United States, where the industry has shed a fifth of its journalists since 2001.^[1] Revenue has plunged while competition from Internet media has squeezed older print publishers.^[1][2]

The debate has become more urgent lately, as a deepening recession has cut profits,^[3] and as once-explosive growth in newspaper Web revenues has leveled off, forestalling what the industry hoped would become an important source of revenue.^[4] One issue is whether the newspaper industry is being hit by a cyclical trough and will recover, or whether new technology has rendered newspapers obsolete in their traditional format. To survive, newspapers are considering combining and other options,^[5] although the outcome of such partnerships has been criticized.^[6] Despite these problems, newspaper companies with significant brand value, which have published their work online, have a significant rise in viewership.

Newspapers: a global industry in transition as an old paper-based technology confronts the age of the Internet and smart phones

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