I like the expression: “Invest in people, not buildings.”
Newspapers should rent out or sell building space to a historical foundation and let them turn the newsroom into a local museum, library or public forum. Create a vibrant, interactive museum about the city. Blend together news and history, photo and video. Newspapers are virtual time machines, but their secrets are locked away in microfiche.
No sense in having a central newsroom when the news is always “out there”. A city news agency should consist of dozens of bureaus, scattered geographically throughout the city, with mobile offices. Budget meetings could held virtually with Skype or something like it. A small production shop could produce the print edition, which is transmitted to printing presses and delivered freely in each community.