Thee Pew Research Center's Project for Excellence in Journalism recently revealed that as newspapers move from print to online, advertising revenues aren't making the same transition. That is, they are not providing newspapers with the income that they need to stay in business.

In 2011, according to Newspaper Association of America statistics, online advertising was up $207m (£137m) across the industry compared with the year before. Print advertising, though, was down $2.1bn. So the print losses were greater than the digital gains by a ratio of 10 to one.

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