Future of news - a direct quote from one Gen Y

Here's a little quote from one of my Gen Y friends on my Facebook wall today:

"I won't ever pay for normal news content ever again full stop. If i wanted to subscribe to something niche likes financial markets pieces etc, then potentially yes, but even then i would discerning. I think he needs to get with the program. Old empire = dead. "

Clearly a sample of one in this instance, but it's not the first time I've heard this sentiment. Wonder how this is all going to work out for Rupert?