SmartMoney has published a report on the performance of newspaper stocks. The report includes one particularly telling paragraph about Craigslist:
“The trouble for newspapers is clear. Classified ads account for about 40% of the average U.S. newspaper’s advertising revenue, according to Mort Goldstrom, vice president of advertising for the Newspaper Association of America. Craigslist is their kryptonite. It competes with newspapers essentially by not competing. Why would customers pay if they don’t have to?”