10 reasons why newspapers won't reinvent news OCT 16 2008
The culture of newspaper management is a dysfunctional relic of a low-bandwidth, monopoly era. It still hasn't adapted to the lessons of Web 2.0, it's generally beholden to a short-term stock price instead of a long-term re-investment strategy and it simply refuses to accept that you can't expect 20 profit margins in a competitive market. Instead of leading, it is a legacy anchor.
An overly harsh list, but good food for thought.