Joseph Torres and Victor Pickard, of Free Press, write that newspapers are in trouble. Big media companies are in bankruptcy, century-old newsrooms have shut their doors, and thousands of journalists have lost their jobs. The day seems imminent when a major American city will wake up without a broadsheet on anyone’s doorstep.

The public’s changing media habits have eroded the newspaper industry’s monopoly on the local ad market. Today, more people get their news online than from newspapers. Fewer people are willing to pay for classified ads and are opting instead to place ads online. This is bad news for an industry that earns 90 percent of its revenue from print ads.

Read their commentary for the Seattle Times here.