Microsoft CEO Ballmer lets the Washington Post know how obsolete it is:
There will be no media consumption left in ten years that is not delivered over an IP network. There will be no newspapers, no magazines that are delivered in paper form. Everything gets delivered in an electronic form.
He identifies not just a change in delivery, but even more devastating to old media, in content. Search is the only game in town. And no newspaper can even compete in that areana.