In Boing Boing, Dan Gillmor of the Center for Citizen Media proposes that major media get together a form a consortium to make content available only to subscribers for a proscribed period --- then freely after a certain time, with unlimited archival access.
He chooses a fairly chi-chi list of collaborators:
New York Times
Wall Street Journal
His plan would essentially bank on two million subscribers at $10 a week (which, if you subscribe to even two of these media, is what you spend now). His post includes a lively q-and-a on the proposal with NYU's Jay Rosen.