folks interested in hyper-local newspaper best practices should check out Rob Curley, now at Washington Post but previously breaking ground in Florida and Kansas. See Fast Company profile for details: http://www.fastcompany.com/magazine/110/open_hyper-local-hero.html

Assuming every dollar is worth more than a dollar (shifted away from the Tribune or even Media General for argument’s sake), it’s easy to see how a focused sells effort can nudge the Tribune “out of the market” over time.  I don’t buy into arguments that newspaper is a less effective advertising medium.

People still want grass-roots, home-town news.

The types of advertisers that really move the needle for a newspaper’s ad revenue (excluding national accounts, auto, builder, telcom, etc.) are still able to effectively hit their demographic.
Meaning, (insert high dollar local furniture store) on Kennedy caters to a more affluent demo.  Those people, 45-50+, still read the paper.  Those people can afford to buy from (X Business) and they still look to the newspaper for promotions and sales.

On the flip side, the smaller mom and pop (with lower valued products) are able to hit their target market too!  Their target market being consumers in a 5-10 mile radius.
Newspapers are one of few options for in-depth local coverage (aside from TV News).  With that being said, the price point of a cable TV buy (once you throw in production costs) is too much for that small to mid-size business.  Everyone has a point of diminishing marginal return they must follow (whether they do it consciously or not!).

A quick aside… A new customer is usually worth a lot more in the long term.  However, the type of rapport it takes to share this information with a new client is fairly advanced.  It’s been my experience that you can’t just tell someone something.  Telling them sounds “salesy”, especially at the beginning of a transaction / consultive relationship.

Point being, there needs to be a larger investment in the sales staff.  That’s where I think the industry is falling short.  A media salesperson needs a spiff for generating new business.

*** Put dollars in my pocket and reward me for doing the right thing.  I’m a salesperson for a reason.  I like to make money. ***

The salespeople are on the streets everyday.  They are the “boundry spanners” for Media General.  They can move the needle.  Selling advertising is easy.  The concept of ROI is powerful.  They’re selling a very calculated dream. 

Now, if 85% of a Newspaper’s revenue comes from retail advertising, why not invest in the sales staff first thing?

Too many people scream the sky is falling and everyone starts to believe it.  Look at politics and world news.  Global warming, etc.  Newspaper isn’t dead it just has to adapt.  The species that survive aren’t always the strongest.  The ones that survive are the ones who learn how to adapt.

My advice:  calm down, take it easy, stay focused, stay local and invest in the people that bring business in the door.