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But, even before the current recession struck, the basic sales model for print media began falling apart: Craigslist destroyed the classified-advertising base, department stores consolidated and advertised less, and the Internet made the free distribution of news the norm.
But somewhere between the iTunes model and the iPhone app store, where people pay for applications that make their life better or simpler, there may be a model for print.
Toby Morris, commercial director at Northern & Shell, the owner of the Express, said: "The problem we have faced as an industry is we have been very short-termist in how we sell and that has led to a discount model for print advertising.
Amstrong co-founded Patch in 2007, two years before he joined AOL, and believes it could be a replacement model for local newspapers because the demand for local weather, traffic, and news will not abate just because the business model for print media is broken.
"We started the whole concept because we thought there was a new model for print publishing.
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Also, it is developed a practical mathematical model for printed circuit board processing time calculation.
The spatial orientation of the model for printing was found to significantly impact on the resolution of the structures and voids that can be printed.
Nevertheless, Rajan insists that the "business model for printed general news from Monday to Friday is kaput" and predicts that other papers' proprietors will follow in owner Evgeny Lebedevs' footsteps.
Without getting too far into microeconomics, I will suggest that traditional publishers set the stage for their current misfortunes years ago, when they developed the pricing model for printed books.
"The Harvard Symposium on Sustainable Models for Print Storage in 21st-Century Libraries," Harvard University, Cambridge, 1-2 October 2014.
"Shared Storage: Financial Models and Possibilities for Collaborations in Collection Development," (panel member), The Harvard Symposium on Sustainable Models for Print Storage in 21st-Century Libraries, Cambridge, 2 October 2014.
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