Here are some useful reflections from the editor of the deceased Rocky Mountain News on how and why it died. (Via the InstaProf). Very likely too late to do any good for other newspapers, but John Temple's lessons learned apply to most any established company that finds its market changing rapidly due to forces beyond its control.
Of all the sins in his list, the most deadly is the mental habit of evaluating every move by its impact on the former core business. Not only does it cripple the formation and success of internal ventures, but it forms an obvious constraint that the entrepreneurial minding can alleviate by leaving and setting up in competition. Temple talks about the Rocky's difficulty in retaining its Web staff against recruiting from 'pure plays', the lesson transfer to other industries and markets.