In a recent National Post column Jonathan Kay outlines three “discrete islands of profitability” that he figures can save print media organizations — should they choose to go in one of these directions. These are:

• Business-oriented media that cater to older, more affluent readers
  of the type who can justify the expense of long-form news consumption
  (in both time and money) as a work activity
• Premium publications that cater to the ideologically involved and
  intellectually upscale — i.e. the sort of well-educated, well-heeled
  reader who prefers to spend his scarce free time in the world of ideas
• The hyperlocal. People love local news — which is why even really bad local newspapers manage to remain profitable.

Kay’s prediction?

“A shakeout is coming — that much is sure. But in each of the above sectors, leading outlets and brands will emerge, and eventually thrive.”

And of his own employer, the Post?

“Trust me on this: You’re reading one of those leaders right now.”