Everything on table as Winnipeg Free Press looks to cut costs

CBC reports (online) that the Winnipeg Free Press is working hard to cut costs. The poor old newspaper industry sure is in rough shape:

• Many of them are leveraged out the wazoo as they were bought with enormous debt (suddenly Conrad Black looks like he might have been smarter to get locked up in jail, then saddled with a newspaper empire)
• People are going online to get timely news that doesn't get your fingers dirty and smelly, and not picking up an outdated paper
• Advertising revenue is plumetting as advertisers chop budgets and look for better ways to get their messages out.

As one comment on the CBC site says:

"This is classic Darwin, the Media version.
Years ago, television killed radio and radio adapted.
Recently, digital cameras killed print film and Kodak adapted (barely).
Today, the Internet is killing print media, and print media had better adapt."