Media General faced a double whammy: a revenue-killing recession and the "free news" reality of the Internet.

..."Over the past five years, our first thought was that this was heavily due to the recession and, like many other recessions in the past, that this was a cycle...But it kept going."

It wasn’t until the second quarter of 2011, Morton says, "that we realized the world had changed."

2011?

The CEO of a major media company confesses ignorance of his industry's biggest game-changer since television, or maybe the printing press. 

Thanks to Richmond correspondent RMM for the pointer.