Do Newspapers Need a New Business Model?

If this is any indication, newspapers needed adapt their business models yesterday:

Free community Web site Craigslist has cost San Francisco Bay Area newspapers up to $65 million in employment advertising revenue, according to a report released Monday.

Given how advanced the disruption is, perhaps it is too late for newspapers that persist with the traditional business model. We'll see.

UPDATE: Barron's steps in:

IN RECENT YEARS, online job site Monster.com has been gobbling up listings from newspapers, once the go-to place for employment ads.

And the beast is still hungry.

After eating newspapers' lunch–the vital classified job listings posted by larger businesses – Monster now wants to grab listings taken out by small and mid-sized businesses seeking to fill blue-collar positions.

"People want to spend dollars where they can get the best employee pool, and a larger and larger percentage of that is on the Internet," says Mark Mahaney, an analyst with American Technology Research.