The problem besetting newspapers is not that there are hordes of bloggers giving it away for free. Bloggers are, to be sure, great competition for the op-ed section. But the op-ed section is not a money maker, as the New York Times so painfully discovered with Times Select. As I wrote at the time, the Times confused what people were emailing each other with what they would be willing to pay for. If those things were the same, poems about Jesus and pictures of kittens wearing hats would have replaced gambling and porn as the internet's most profitable content.

via Old Media Blues - Megan McArdle.