I think the problem with the US/European newspaper sector at the moment is that the newspapers are just not very good. Far too many have done very well out of the booming advertising market. Now the ads have dried up, there's nothing left.

It's sad the FT is suffering, but it'll survive with fewer staff. It still has a core business in supplying financial analysis that is better than you'd get on TV or in another paper. Sadly, the paper doesn't have a good track record with its website. I used to buy the paper and visit the website when I lived in London. Then they started charging for all the interesting stuff online and they lost me.