Virginia Postrel on Life in a Declining Industry

She writes:

This long American Journalism Review article on troubles at the LA Times made me think about the question media critics consistently dodge: What strategies are realistically available when you’re caught in a declining industry, which the metropolitan daily newspaper most assuredly is? How do you sell localism–local news, local advertising, locally produced articles on national subjects–in a market saturated with cheap substitutes whose quality has been tested in national competition? What niche can you fill?

Frank Ahrens has more on the recent circulation scandals.