Small newspapers survive better.

In the States, the financial data of 120 newspapers was analyzed , and it turned out that none of the newspapers with a circulation of more than 50 thousand could not increase their profits over the past 5 years. At the same time 19 editions with a smaller circulation managed to increase their profits. (10 of these 19 have a circulation of less than 15 thousand. It was this group that turned out to be the most successful.)

An interesting fact: private ads, as a source of income, did not die, but quite the contrary. So Craigslist hasn't killed everyone yet. The profit rate in the newspaper business fluctuates in the delta of 8.5–13.6%. True, some experts say that the study does not take into account crisis data. Most likely, the rate of return is rapidly declining.
Actually, I see nothing surprising. Dinosaurs are dying out, mammals are taking the stage. Plus, the mantra of media researchers of recent years is confirmed - the landscape is changing, the habit of consumption is changing with it; from mass media, we turn to personal; Naturally, I will refuse a big newspaper, because I can get all its contents for free and in the best quality on the Internet, but almost no one writes the news of my village, so I'd rather buy a district office.