The divergence of traditional and social media has never been more starkly illustrated than it was last week.
Two old-line newspaper companies — Gannett (the largest) and the New York Times (the most prestigious) — reported their quarterly financial results.
Meanwhile, Facebook — which didn't even exist a decade ago — filed the legal paperwork for an initial public offering of stock in the spring.
The Times reported that its print advertising was down about 8 percent from the previous year. The company's market capitalization — the amount all its assets would bring if sold — is about $1.1 billion.
Gannett's print advertising was down about 5 percent from the previous year. Gannett's market cap now stands at about $3.5 billion.