I've been arguing that anyone who thinks the "old media" model is a gonner should stop theorizing and just short newspaper stocks.
"Newspaper" is an oxymoron. Nowadays, anything on paper is either history or a novel. Though newspaper companies are buying and building online extensions, the revenue gains will never offset the scale of losses coming as subscribers and advertisers defect to cheaper, faster tools AND as individual papers lose their monopoly pricing leverage in their respective markets.
It is more likely that Henry Copeland will be offering to help advertisers place ads in a complementary mix of newspapers, magazines and blogs before newspapers disappear. I wouldn't be surprised if he didn't get commissions from mainstream media for the service.