Newspaper companies put their money where the clicks are

Media companies McClatchy Co and Media General Inc, which are seeing their focus on online content starting to pay off, are speeding up their investments in digital media.

Newspaper publishers in the United States have seen their advertising sales and circulation flounder over the past few years and are turning to the Internet in a bid to stay afloat. Publishers such as the New York Times Co have pay-walled their online content to diversify revenue sources in a closely watched move. "The whole industry is looking to digital advertising to recover its fortunes. The future is digital, not print," said Benchmark analyst Edward Atorino.