The media decline started over a decade ago with the transition from the physical publications to online. Was the transition to online the root of the problem,

The media decline started over a decade ago with the transition from the physical publications to online. Was the transition to online the root of the problem, or was the root of the problem that drops in readership and revenue of physical publications that led to decisions to focus in online content? Or to put it a different way, would media be in better shape now if they had stuck to physical publications? Or would they have just died off and been replaced with online publications?