And the advertising revenues are so much lower because on the web, advertisers measure actual impressions of their ads. They don't pay for ads that don't get l

And the advertising revenues are so much lower because on the web, advertisers measure actual impressions of their ads. They don't pay for ads that don't get loaded by a reader. Meanwhile in print, advertisers have always paid no matter if anyone paged over to their ad or not. The lack of measurement was the secret sauce that made print publications profitable.