Editors' pick: Originally published Nov. 9.
Let's face it: Newspapers are going the way of the dinosaur.
The sad fact is that most people just aren't reading the news in print anymore.
Although many in this industry have managed to make the switch to online, they are suffering the loss of a massive revenue generator: print advertising.
And without these ads, media companies are seeing a dramatic downward slump.
Nobody in the print media is safe. Gannett, News Corp. and TEGNA, all once top media brands, are dealing with a combination of falling print-ad revenue and digital sales that are too sluggish to bridge the gap.
Even New York Times , a $1.8 billion media behemoth and time-honored institution, is at a tipping point.
The company's shares gained about a percentage point in Tuesday trading.
The yearly topline for the company has been halved over the last decade. In its third quarter, revenues slipped 1% year over year. The fourth quarter is expected to show more revenue loss from declining print advertising sales.
But it hasn't been all dismal for the company. In fact, for New York Times bulls, there are some positives.
First of all, the company has renewed its focus on its cost structure. It has downsized staff and tried to operate within its means.
Secondly, the New York Times is still among that tiny portion of publishers whose circulation revenue is more than advertising sales.