The economics of news gathering, production, and distribution is in a state of radical change. After many very profitable years, newspaper publishers in most OECD countries face declining advertising revenues and significant reductions in circulation and readership, especially among younger people. At the same time, many promising new ways of news creation and distribution are evolving, enabled by increasing technological capabilities, new information intermediaries, and decentralized forms of content creation. Despite these new possibilities, however, no business or revenue-sharing models have been found to finance independent news production. This raises questions about the supply of high-quality journalism in the longer term and the roles that government support might take in supporting a diverse and local press without putting its independence at stake. This study provides an in-depth treatment of the global newspaper publishing market and its evolution, with a particular view on the development of online news and related challenges.