The Europeans however should be scared. They have a demographic timebomb on their hands that while obviously impacting their social safety nets, will tremendously impact print readership. While I think and hope that print will go back to basics, it won’t become elitist. The revenue loss -if the drop is sudden and occurs before proper monetization of online content – can paralyze the national dailies, create merger opportunities in a battle of the least weak, and create a lot of uncertainty in the sector.