I would agree with newspapers. They're in disarray over here as well. I worked for a uk national one a few years ago. They had no strategy, had been taken completely surprise, reacted slowly and had no business strategy to deal with it and were trying desperately to get ahead of the curve and second guess the market, but failing. They were putting all their eggs all into digitising, but it was having no effect.
I mean why pay for content when you can get it for free, pay walls just pushed consumers elsewhere.
What they did have, like Marvel, was a loyal customer base and a strong brand. They would have been better concentrating on that market and driving their print and online content to that base rather than trying to diversify into a hit and miss digital marketplace.
Just like Marvel is not doing now
In addition they had the answer if they had just looked at their history. Every time they faced dwindling circulation they just dropped the price, and boom, circulation went up.
They may not be making as much per paper, but they sold shed loads more which in turned generated healthier profits