IN A recent issue of the beloved comic book, Superman’s alter ego, Clark Kent, quits his job as a journalist at the Daily Planet
because the paper has gutted its news coverage. Is the outlook for
newspapers really so dire that even superheroes have given up on them?
Ever since 2006, when The Economist asked on its
cover who had “killed the newspaper”, the industry’s pains have only
intensified. Advertising has plunged. Readers have kept moving online.
Revenues of newspapers continued to fall, dropping to $34 billion last
year in America—only about half of what they were in 2000.