Serious journalism has never been profitable so why change?

Business models are the talk of the journp blogosphere at the moment and Newsweek look at the former explaining why they are no models for new journalism.

Essentially it argues that journalism has never been profitable

The great newspaper companies got away with not maximizing their profits either by being privately held or by setting up two classes of stock, which insulated them from shareholder pressure.

Today there are three opposing corners of the ring

In one corner are editors who believe news organizations committed a fatal mistake by giving their content away for free on the Internet

whilst in the another

Another camp favors philanthropic support. whilst in the third corner a faction

looks to online advertising for sole support:

The organisations that don't create profit are termed "creative capitalism" the term coined by Bill Gates for companies

attempt to advance social goals while also attempting to make money.

The problem is that something has to fund these models.