The Media's Black Tuesday

Even for those of us accustomed to Romenesko headlines of newspaper cutbacks, Tuesday was particularly depressing. The Christian Science Monitor announced it will stop publishing a weekday paper; Time Inc. laid off 600 staffers; Gannett laid off 3,000. David Carr surveys the wreckage in The New York Times, writing, “Clearly, the sky is falling. The question now is how many people will be left to cover it.” The problem? Papers are trapped between print and the Internet, moving their product to the latter but still deriving the bulk of their revenue from the former.