The Future of Newspapers

Newspapers usually print the headlines, but recently they are the headline.

Papers across the country are cutting staff or stopping the presses altogether.

In March Seattle's major daily paper, The Post-Intelligencer, printed its last edition after a 146-year run.

Newspaper companies that haven't dissolved are trying to evolve.

Part of that transition relies on drawing readers to the internet, the key to making new revenue.

The Newspaper Association of America says print ad revenue fell nearly 18 percent last year, the worst drop ever for U.S. papers.

"We're facing financial difficulties driven largely by the recession, but also by changes in the media marketplace as well," said the NAA's Randy Bennett.

The Charlotte Observer, like many other papers, is making that tough transition.

In March the paper announced it would cut staff by nearly 15 percent

The company is also merging its daily printed edition with online partnerships that will boost overall revenue.

"We're now becoming a media company, not just a print company," said Observer publisher Ann Caulkins. "When this recession ends, because our structure is so slimmed down, we'll be in a great position with what we're doing on the internet."

Those in the industry say don't count the printed newspaper out yet.

Even with all the changes there are still over 2,000 major and local newspapers in the country with readerships advertisers still want to reach.

"There are 100-million readers of newspapers everyday," said Randy Bennett. "That is not indicative of an industry on collapse. That's just indicative of an industry going through transition."

Seattle's Post-Intelligencer may be out of print, but it is now the nation's largest paper to shift entirely to an online edition.