Read the story on MediaPost. 

They’re going pretty much the way all the pundits have been pointing for the past year or so – integrating their print and web teams, and using the website as the primary driver for breaking news.  All journalists will have to take a crash course in web journalism. 

To illustrate their need to fix the online channel

 He  (Editor James O’Shea) used auto advertising as an example to sketch the revenue crunch created by the shift from print to online advertising. “In 2004, automotive print advertising at the Los Angeles Times totaled $102 million. And what will it be this year? $55 million.” While the company made up some of the difference in Web ads, O’Shea said the paper was losing more in print ads than it was recouping online.