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Unfortunately, they came late to the realization of how important this is and did not invest enough capital in the early years of the Internet.

Instead, most newspaper companies concentrated on shoring up the profitability of their traditional newsprint-oriented business, chiefly through laying off employees, downsizing their newspapers and cutting back on circulation in distant areas of little interest to advertisers in their core markets...

Unfortunately, they came late to the realization of how important this is and did not invest enough capital in the early years of the Internet.

Instead, most newspaper companies concentrated on shoring up the profitability of their traditional newsprint-oriented business, chiefly through laying off employees, downsizing their newspapers and cutting back on circulation in distant areas of little interest to advertisers in their core markets...

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