Clay Shirky, one of the most influential voices on news and the internet writing today, has a well-put essay on his blog on the future of news. It is much better put than anything I have done, and well worth reading.
He dissects very nicely the different schemes for resucitating papers. “Round and round this goes, with the people committed to saving newspapers demanding to know “If the old model is broken, what will work in its place?” To which the answer is: Nothing. Nothing will work. There is no general model for newspapers to replace the one the internet just broke.”