I was a daily newspaper reader in a midsized market for many years. The paper shrank in late 90s, early 2000s and stabilized around 2014. COVID killed the paper paper, I don't even know where you get it now.
Deregulation and consolidation started hurting the business in the 90s, the pure margin classified business started taking body blows ~2002 here (Craigslist wasn't everywhere) and salaries started tanking. Then the smart reporters flipped to PR.
The smartphone was the death blow as the sweet business of being an ad-delivery courier started to erode. Many people subscribed to the Thursday/Sunday paper to get the supermarket flyer and retail ads/coupons.
the internet made it ~free for anyone to publish to the whole world, which eviscerated the premium of space in the newspaper. it'd have been hard for newspapers to not get destroyed no matter what they did, but losing classifieds to fuckin' craigslist wasn't their finest moment, either.
But there is tons of newspapers still? And online publications? It's not like there is a shortage of news sites