It's not just the big daily newspapers that are suffering

Most attention is being focused on the problems of the big-name newspapers, but smaller publications are in trouble, too. This weekend saw the last issue of AsianWeek, a 60,000-circ publication that has been serving the fastest-growing ethnic group in the US.

"There is a huge potential in the Asian-American market," Fang said. "But we're facing the difficulties and the reality of the newspaper environment and the economic environment."

Somebody will serve the needs of this big and growing market, but it probably will not be in the same format.