From Downsizing the News And Pretending to Increase Quality :

During the past few years, newspaper owners demanded and were getting at 20–40 percent profit, among the highest for any industry–and that includes Big Oil.

Go to any journalism conference, and you’ll see a lot of hand-wringing. Reporters and editors are whining about how bad it is. They rightly blame owners and publishers. But, they also blame readers for accepting abbreviated news drops from TV and myriad cable networks. They whine about the Blogosphere and Internet domination. They complain about the short attention span of their readers. It’s this and it’s that. And so, with the help of $500 an hour consultants who eruditely harrumph their grandeur of divine guesses, they make cosmetic changes.

The system is broken, and it’s the owners’ fault.