The below survey from the Newspaper Association of America (NAA) is interesting. This survey neatly fits into the NAA's world-view. Generally said, the NAA appears to have stopped worrying about how to make print work a while ago and now is primarily interested in telling its members they need nicer websites (I have been to their conferences and listened to one heartfelt forum in which the presenter debated the value of employing "hot or cold" colors on a homepage- "orange might be a little too aggressive.") One problem: advertisers don't appear to agree (perceived value of online newspaper ads - banner and otherwise - is still substantially less than print products) and since the overall value of online ads gets diluted by the enormous volume available, that is not likely to change anytime soon. Which is ok, if you only have a website but for a news gathering organization it makes paying the bills pretty tough.

Here is the survey info:

Update on the Print / Online Newspaper Audience
 Information seeking consumers, including newspaper readers, regularly use both print and online in their search for news and information.  A June release from The Media Audit states that people who are considered heavy print newspaper readers spend about as much time online as the typical U.S. adult.  People who spend at least one hour per day reading a newspaper also spend 3.7 hours per day online. As reported by Media Post   and NAA's OPU blog,  the research also revealed that the average U.S. adult has almost doubled their daily use of the Internet between 2006 to 2008 - from 2.1 hours per day online to 3.8 hours per day online. The Web now represents about one-third of a typical "media day" for U.S. adults.

This willingness to cross platforms on any given day also works to extend the effective print / online reach of newspapers.  According to The Media Audit report seven daily newspapers have achieved a net unduplicated reach of 80% or more when the past 30-day website visitor figure is combined with the past month print readership figure.

Source: The Media Audit, MediaPost, Scarborough Research and NAA