Ryan Chittum has written a terrifc article for the Columbia Journalism Review. It gives valuable perspective on the economic state of the newspaper industry.
Basically, Chittum reveals that newspaper industry ad revenue in 2009 is at 1965 levels, if you use inflation-adjusted numbers. That finding raises what I think is an important question: How big were the newsrooms in 1965? (Remember, those were the days before publicly traded newspaper companies.) In addition, I'd like to know what percentage of a newspaper's revenues on average went to editorial coverage in 1965? It also makes me wonder about the news hole staffs filled in those days. Does anybody have that data?