Morgan suggesting that asking when online journalism will pay for the newspaper are asking wrong question. Newspapers in the traditional sense won’t survive.  The trick will be to disaggregate the following traditional componenents of newspapers and see which will  thrive and survive in a digital age:

Local news and editing

distribution

ad sales and marketing

printing

digital

Newspapers do have exisiting d  ansuccessful ad sales and marketing structures that may be ready to support a new newspaper model.

But printing is an enormous expense pulling whole companies down.  It is unlikely that any new model will have any serious printing component.