Clay Shirky: Society doesn’t need newspapers. What we need is journalism. And journalism has always been subsidized.
Jack Shafer: What's gotten many newspapers in trouble today is poorly timed acquisitions. At the height of the bubble, no price was too high if a newspaper claimed to be the dominant daily in a market. Newspaper owners who overburdened themselves with debt are more vulnerable than the medium itself. Most struggling newspapers will survive at lower but handsome profit margins.