The newspaper industry exited a harrowing 2008 and entered 2009 in something perilously close to free fall. Perhaps some parachutes will deploy, and maybe some tree limbs will cushion the descent, but for a third consecutive year the bottom is not in sight.

We may well look back at 2008 as milestone in the history of the Web as a news destination.

Two years into a new generation of anchors, one hard reality about network news is clearer than before. Changing the cast and even the content of the programs will not change the dynamics of the enterprise. The limitations of time slot, changing lifestyles and the growing desire of Americans to get their news on demand are more compelling. The problem was not that the anchors had been there too long or that the shows were too traditional.

While many sectors of the mainstream news media struggled, in 2008 cable shined. CNN, Fox News and MSNBC all gained viewers, were projected to see record profits, and expected to increase spending on newsgathering and bureaus around the world. CNN even launched a wire service to compete with the Associated Press.

For American news magazines, 2008 may be seen as the year when the traditional mass audience model finally collapsed.

Radio is well on its way to becoming something altogether new — a medium called audio.

Largely as a result of the recession, the ethnic media saw a mixed 2008. There were stories of revenue losses, business closings and reorganizations, and also many examples of the ethnic media continuing to fare much better than the mainstream press.