Roy Greenslade at least is considering the web as well as decline for newspaper circulation

http://media.guardian.co.uk/mediaguardian/story/0,7558,1351135,00.html

However, he writes about newspaper web sites as if they have no income such as advertising or the digital editions as in the Guardian. It really is a bit silly to have such reporting. The Guardian seems to have a policy not to mention the digital editions in the UK print version. Apparently they do promote them in the print versions outside the UK. It is up to the guardian if they want to keep the PDF option a secret. But it makes the journalism less than it might be if Roy Greenslade ignores them in an article like this.

News organisations will eventually regard the web as part of mainstream income flows so why not start looking at this soon?