Everyday, we hear about the closing of newspapers or even the bankruptcy of major news organizations. Why are newspapers going broke?

Newspapers shouldn't be facing the imminent danger of losing money from advertising or reducing staff.

Why aren't newspapers finding new and innovative ways to make money AND reduce costs? There is plenty of news to report, I don't understand why newspapers can't be innovative.

Here's some suggestions for bankrupt or struggling newspapers:

Monitor blogs for sources of information.
Nothing can beat the idea of an aggregate source of information by combining the 'brain power' the web can provide. Any one person can easy use Google's blog search to get information about any particular keyword. A journalist writing an article has the power to do this efficiently and get reliable resources or they could always put inquiries onto Peter Shankman's HARO emails.

Build Fan Groups Through Social Media
Newspapers can easily distribute relevant video stories to interested parties through YouTube and make money off of pre and post roll advertising from Google. YouTube needs to boost it's ad sales anyway. They both can benefit.

CNN uses Twitter to deliver breaking news. Is Your Newspaper?

Optimize Headlines For SEO
Educate your journalists or employ a team of in-house SEO experts to help get your articles written to be found. Google loves consistently updated content. Why can't your newspaper be in love with Google's Search Engine Results Page (SERP).

The bottomline is, the news isn't going away. The papers haven't been able to adapt and monetize the new way information is being distributed (particularly online).

When will newspapers trust information coming from the web?