In reality, 2009 is more likely to bring more layoffs, further
consolidation and the death of certain long-running titles than it is a cyclical
upturn in fortunes, as publishers grapple with the truth that their businesses
have changed fundamentally and forever.
However this year will see the final breakdown in the traditional business model because according to Patrick Smith,
1.The old model is broken
2.Print advertising is evaporating
3.The digital model is too small to sustain the overheads of the media businesses.
And his forecast-more closures and more mergers
Hat Tip Adrian Monck