S.E. Cupp weighs in here. Conclusion: It’s mostly the medium, not the message:

Folks on the left are blaming greedy newspaper owners for running their businesses into the ground. And folks on the right are blaming biased journalists. Both are red herrings. Certainly, some owners have been imprudent. And partisan journalism is a pitiful abuse of trust. But these are not the causes of newspapers’ demise … The medium and the clunky limitations of its production are the problem.
… The potential death of newspapers is not good news, mind you, and if this exploration sounds somewhat giddy or ambivalent, it is not meant to. Local newspapers are the State’s watchdogs. With the government preparing to reach its sticky fingers into a frightening number of cookie jars — essentially owning our banks, our healthcare, and our homes – we need thoughtful, skeptical and courageous people on the ground to ferret out corruption and graft.