Digital First Launches Investment Arm

Ryan Chittum: "You can't compare nine months of circulation-revenue changes to 12 months of ad-revenue changes and then say the former 'didn't even cover the decline in the latter.' That's like giving somebody a 100 meter headstart in the 400 meters and then talking about how the laggard couldn't even compete, even though they ran faster than the rest of the field."

Frédéric Filloux on the benefits and pitfalls of teaming up with content distributors: "Media should be very careful with their level of reliance on other content distributors such as Facebook, Google, Apple or Amazon. This can be summed up to a simple question: can we trust them?The short answer is no."

Howard Owens: "As a matter of business reality, when an incumbent business moves deeper into sustaining innovation it opens up opportunities for disruptors. In every market where a newspaper puts up a paywall, an opportunity is created for an entrepreneur to start a local online news business."

Robert Hernandez, an assistant professor of professional practice in journalism at USC Annenberg: "With technology empowering everyone with the ability to create and to distribute, I predict — and wish — that in 2012 the new dominating factor will be Credibility. Actually, earned Credibility."

Tom Stites: "Desertification is on the march, claiming more and more communities as newspapers continue to wither and few Web efforts manage to replace more than a fraction of the original reporting that newspapers have abandoned."

Mel Taylor: "Today's Newspaper industry is like that once great, but now struggling baseball team playing on a new, hyper-competitive field called the Internet. The veteran print team is stuck in a rut using the same, tired strategy that did serve them well for years, but no longer. Today, they get trounced by those with more money and muscle."

Matthew Shanahan: "Here’s the problem: [Click-through rates don't] take into account audience engagement, not to mention the fact that other advertisers are competing for the click-through on the same page."