Arguably, this could have been fit under the "dead three media" thread but I thought it deserved a thread of it's own.
Writing in The New York Observer, John Koblin pointed out that when Forbes, Portfolio and Fortune went through recent retrenchments, the Web staffs were hit the hardest. That may be just an old print reflex, but there is a rational argument to be made that the part of the apparatus that has a working business model, declining or not, should receive the resources.
What paper?
How does this apply to all others? In a recession in particular?
Click through to the link. It's a Jersey-area paper but the piece is from the NYTimes and focussing on news corporations problems with web product.
I think the noteworthy aspect of this is that e-news media are struggling more than "dead tree" media in terms of making money.