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there are differences in the two reading experiences

Still, the Times seems likely to attract many readers even after it begins charging for content.

Last year, circulation dropped on average by 4.6 percent on weekdays and 4.8 percent on Sundays. Earlier this year, Detroit's two daily papers reduced home delivery to three days a week, the Seattle Post-Intelligencer ended its print edition, and the Rocky Mountain News shut down altogether. This summer, The Boston Globe, which is losing more than $50 million a year, survived only by giving in to the draconian cutbacks demanded by its owner, the New York Times Company, while the Times itself, weighed down by the Globe, had to take out a $250 million loan from Carlos Slim Helú, Mexico's richest man, at a junk-bond-level interest rate of 14 percent a year.

The traditional three staples of newspaper advertising—automotive, employment, and real estate—have all drastically declined, thanks to Craigslist, eBay, the travails of Detroit, and the consolidation of department stores (resulting in fewer retail ad pages). Meanwhile, the steady expansion of space on the Internet has caused online ad rates to crash, and these are not expected to recover even when the economy as a whole does.

that promise to do for books what the iPod has done for music: making them easily downloadable and completely portable

Mr. Benkler said he saw the project as "simply an experiment of how books might be in the future." That is one of the hottest debates in the book world right now, as publishers, editors and writers grapple with the Web's ability to connect readers and writers more quickly and intimately, new technologies that make it easier to search books electronically and the advent of digital devices that promise to do for books what the iPod has done for music: making them easily downloadable and completely portable.

For unknown authors struggling to capture the attention of busy readers, however, the Web offers an unprecedented way to catapult out of obscurity.

The redesign "won't just be an external, cosmetic change but something deeper", Trivino says. "Right now it is a very confused time. The internet is just a transitional stage in something that is happening. At News Corp we are trying to deliver the brands through any kind of platform. So it is the right time to rethink, what are the core values of The Australian, and how are we going to deliver the paper as a consistent brand?"