From the L.A. Times:

The overall media landscape has unquestionably improved for readers. Capitalism is about choices. More choices mean better options and greater consumer satisfaction.
Before the rise of the Internet, The [L.A.] Times was a natural monopoly. And with monopoly comes complacency and arrogance.
Technology has killed the monopoly, but the ingrained attitudes remain.
Even with record-setting losses in circulation and revenue, the paper is still complacent. Marc, you and I were on a radio show Tuesday with Times Editor Russ Stanton. The host asked what the paper could do to win back a longtime subscriber who had canceled her subscription. Stanton’s answer, essentially, was to keep on keeping on.

The whole thing is worth a read.