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Lost Remote points to this report from Outsell, which states that United States newspapers could face a potential $20 billion shortfall over the next five years as readers and advertisers continue their migration to the Web.

A combination of declining circulation and the continued growth of online news sources will
"lead to a huge revenue gap for the newspaper industry by 2010." As the highly prized demographic of 18 to 39-year-olds continue to get their news online, daily papers could see their circulation numbers "dropping by as much as 19.5% from 2004 levels."

Outsell's lead analyst Ken Doctor says the expected shortfall is worse than newspaper executives are acknowledging. "The business of news faces an unprecedented transformation as these trends likely accelerate over the next five years.”