At Gigaom, Mathew Ingram argues that focusing on digital is the only hope the media industry has:
New York Times media writer David Carr had an enlightening and apt metaphor for this situation, which he described to me after a recent event in Toronto: there are two rooms, Carr said — the print room and the digital or web room — and newspapers know that they have to get from one to the other. But they can’t just turn the lights off in one room and move to the other, and so they are currently trapped in the long dark hallway between the two, groping around trying to find a handhold. And it isn’t clear when they bump into someone (like Twitter or Facebook) whether they are friend or foe.
Does that sound like a recipe for unqualified success? Hardly.
Ingram rightly says the future may not be obvious, but ignoring it isn’t an option. You might find the full read worth your while.