What is most concerning is that Murdoch's move will presage an attempted strangulation of the free flow of information on the web. Murdoch will want to stop his content being sneaked out of the pay-walled compound, and aggressive copyright enforcement is also on the cards, and the way these laws are being written, it is evident who's sitting round the table. When globalist cabals, such as the recently-held Bilderberg meeting, get together to discuss copyright protection, they are only considering their own interest, and free flowing information is of no benefit to them - indeed it is an existential threat.
Newspapers are no longer the primary means to disseminate the news. They still have a function as a literary product, and many people like to read them on the way to and from work (not me, I read a book), or on a Sunday morning, so there is still a market for them as objects, but when a big story comes along, by the time it hits the news-stands, we've all heard it. They are no longer at the cutting edge.
There surely cannot be a case for subsidising newspapers, like we do the theatre or the opera (I pass no comment on the validity of so doing, merely note it). They must adapt or die. The top journalists must recognise the good days are over. It may do their souls some good, if their job becomes a vocation again, and we are never short of aspiring journalists.
Looking at this issue, the privileged position of the BBC stands out like a sore thumb. As capitalist enterprises sink, the BBC sails majestically on, its revenue protected by the coercive power of the state. Whether this is right or tenable in the long term, I couldn't say, but it enjoys enough goodwill from the public to rest easy for now.
Given the choice between protecting the established media and the anarchy of the Internet, I do not have to pause a moment before answering that the latter is by far the more valuable. The Internet has brought a revolution in information, comparable to the coming of the printing press, or the breakdown of censorship during the English Civil War. Much of the joy of this has come from a relaxed attitude to copyright and an understanding of the 'fair use' principle, so necessary if ideas are to be debated. But the old media is not dead yet, and, although it may be the thing that finally kills them, they seem to be gearing up for a counter-revolution that must be resisted.
Lowly bloggers, such as I, cannot claim any great influence or power, and cannot compete with a worldwide media network, but taken collectively the micro-media make a pretty grand hill of beans, and since the worldwide media networks that exist do such a poor job in informing us, albeit in an entertaining or at least diverting way, I see no reason to resist the evolutionary tide that is sweeping in upon them.