The newspaper industry is in the worst financial crisis since the Great Depression. The biggest kiosk seller this month was a highbrow liberal weekly that featured a tabloid satire of a presidential candidate and his wife. The biggest newsmaker this month was a supermarket tabloid that caught a former presidential candidate visiting his extramarital baby mama, and the major journals of record won't even blog about it. Surely this is the End Times of big media. What is to be done? Where are our journalistic standards headed? And how long before what you see above becomes an actual New York Times Magazine cover? It may just be the economy, but all the apocalyptic chatter about the "death of the MSM" is starting seem prescient. For years, newspapers have been struggling to reconcile the Internet's up-to-the-second information spigot with old-fashioned standards of reporting. It's hard to keep track of how many "blogs" the Times now has, or how indistinguishable most of their substance and style are from what you'd find in the print edition. Apart from writing cloyingly and belatedly about the new media revolution and its cultural implications, what has the Gray Lady really done to ensure its continued relevance? Judging by its books, not much—it actually asks more of its shrinking readership. By close of trading Thursday, the stock of the New York Times Co. was listed at $12.48 per share, half the price it was a year ago. The paper then announced it'd be increasing its daily newsstand price by 25 cents, beginning August 18. Oh, the company also posted double-digit losses in ad revenue this quarter, citing the worst month so far as June, with July fast closing in. Circulation is down (profits here are only up because of previous price-gauging), 100 reporters were laid off this year, and everyone's wondering whether the Sulzberger clan will simply call it quits and switch to a small soy agribusiness in northern California. It'd be more wholesome than acknowledging that this century's Huey Long got his freak on. Other media empires are hurting, too. McClatchy Co., Lee Enterprises Inc. and E.W. Scripps Co. all claimed profit falls by almost half of last year's earnings. And most industry analysts expect the locust year to extend into well next. That must mean more bullshit trend pieces.