Interesting article today from The Economist about how newspapers are modernizing operations, making cutbacks, and gearing up to compete in the 21st Century.
Popular opinion is that local media has not adapted to new technologies. Certainly, reaction has been slow in a lot of places.
That said, this article communicates a contrarian point that jives with what we're seeing in the marketplace. Old media has certainly awoken to the realities of new media, and are now aggressively adding new offerings to their product mix on both the editorial and advertising sides of the house. They're running leaner and stronger, and I expect that (like the purported demise of the music business) we won't see the fall of local media either.
It was only a matter of time for big media to begin to make sense of it all, and we're just now seeing it. Expect more here.