The internet is definately a threat to newspapers but not perhaps in the way that many imagine. The internet's threat to newspapers as a source of information is only part of an ongoing attack by the media.
In spite of this, I believe that newpapers still have a part to play in the media business. Other forms of communication may be able to supply the news faster but for indepth analysis where you need time to absorb the information, newspapers still hold their own.
Newspapers have been suffering falling circulation figures for many years and the advent of the internet has done nothing to improve things. I believe that what will eventually happen is that the majority of titles will fold but there will still be a few newspapers left.
The biggest threat to newspapers from the internet however is not loss of readers, because sales of newspapers is a very small part of it's income. All newspapers rely on advertising as their main source of revenue and this is where the internet poses the greatest threat. If companies see that advertising on the web gets them greater sales, more exposure, than in the paper, they will abandon the press.
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