Schmidt notes the "atomic unit of consumption," namely the one-set-of-eyes-on-one-story digitally as a break from many eyes on many stories in the paper, and suggests there are opportunities inside this new model.
There is no magic bullet, though.
Rather, Schmidt expects to see several models emerge, some free and some paid, with the spoils going to those who collaborate on making journalism better in the transformation.
"I certainly don't believe that the Internet will mean the death of news. Through innovation and technology, it can endure with newfound profitability and vitality. Video didn't kill the radio star. It created a whole new additional industry," he writes.