Pick up any newspaper ([nüz´ pa p r], n. A roughly cylindrical, folded sheaf of paper imprinted with black marks, usually found in a moldering cobwebbed stack behind the hydrangeas), and you will most likely find a story of yet another print media group going through consolidation, layoffs, or just quietly passing on. McClatchy Co., which owns approximately 30 newspapers and just two years ago purchased Knight Ridder, recently announced that it was laying off 1,400 people. Some of this was due to the economy, some to existing debt, and some to both readers and advertisers running off to the internet, a serious issue faced by the entire print industry.

News magazines are also feeling the crunch. U.S. News & World Report recently announced that it is moving from a weekly to a biweekly publication next year, and Time has reduced its circulation base to lower costs. Publishers in general are gasping for breath as readers and ad dollars shift to the internet much more quickly than anyone expected.