His latest post prescribes a blizzard of initiatives. He says it's not too late, but that legacy media are at one minute to midnight. He suggests, among other things:
1. Stay in print, split functions of companies, outsource everything possible.
2. Invest in local networks of independent sites, add value with curation and sales.
3. Create a pure ad network.
4. Create a high-end product and charge a lot for it.
5. Create niche services and publications.
It's a typically insightful post with many more suggestions. Recommended reading.