Remaining papers, such as the Boston Globe, have struggled to deal with declining print ad revenue – much of it lost to Craigslist, and other classified sites – while shifting to a web-centric marketing strategy. (In April, the Christian Science Monitor began publishing its daily edition online only.)
“For most newspapers in the United states, we would not buy them at any price,” Warren Buffet, the world's foremost businessman, said this year, when asked about the possibility of investing in newspapers. “They have the possibility of going to just unending losses.”
Well, maybe not
This was the landscape Karp faced. It was grim all around. Still, he persevered, telling Wired that contrary to popular opinion, print media was not dying. For "people around the world, who need to and want to consume information, whether it be in developing countries or emerging countries," he said, "newsprint is still going to be a main mechanism for information for years to come."
Karp told the Times today that he ultimately put "six figures" of his own cash into The Printed Blog.