OJR has a series of articles I’ll be watching closely focusing on different online local news models. The first is the Voice of San Diego, which I had never heard of before, but looks really promising. The second is MinnPost, which seems to be the highest quality of these types of sites and appears to be on its way to soemthing resembling financial stability.
Ultimately, I feel like the future model will involve sites like these, accompanied by stipped-down (but not dumbed down) print versions aimed primarily at people taking public transportation.
But then again, what I think the future of journalism looks like changes every day.