Tim Porter has a great post at his blog, First Draft, suggesting five steps that newspapers need to take in order to ensure their survival. He heard the ideas from Mike Smith, recently appointed executive director of Northwestern University's Media Management Center.

1. "Newspapers must have a young reader strategy to succeed in the long run"
2. "Newspapers must become cradle-to-grave information companies"
3. "The right new products (and technologies) depend(s) on the readers in each market"
4. "Any young reader/new product strategy must incorporate an Internet product and should encompass other media based on the consumer's media usage, access and markets"
5. Most publications will require a major rethinking. Fix the core product"

Source: First Draft by Tim Porter