Mark Glaser's MediaShift site has produced a very intuitively strong and instructive look at alternative business models emerging for newspapers in the digital age --- arguably the cutting edge of the most significant media issues today.
His options: blog networks, classified networks, crowdfunding, customized papers, hyperlocal ads, local portals, multimedia ads, niche sites, non-profits and paid content. All are explored in the posting.
It's a useful guide to some of the decisions ahead. As Glaser puts it, the newspaper of the future will have to depend on a variety of revenue streams to pay for its work.