Hyperlocal blogs continued

To continue my discussion about hyperlocal media, Placeblogger has a post reporting on the idea that hyperlocal blogs could take the place of the Boston Globe. The New York Times Co. has threatened to close the Globe if unions don't make $20 million in concessions.
The post refers to another blogger, Rick Burnes, of Cambridge, who suggests "we shouldn't be asking how to save The Globe, we should be asking how we'll build its replacement. He goes on to suggest that The Boston Foundation should fund a community news experiment similar to the Knight Foundation.
I think it's unlikely that community bloggers will take the place of a national institution like The Globe and the 340 people on its news staff and apparently many people in the community, including bloggers, agree, according to a New York Times article. Supporters of The Globe are also suggesting that it be taken over by a community foundation.
Obviously there will have to be drastic changes in how newspapers are financed if they are to survive. Maybe hyperlocal blogs will eventually replace newspapers (although it's unclear how they will make money too) but I don't think they will ever replace the kind of depth of coverage you find in a newspaper like The Globe. So, let's say a little media prayer for them and for all of us present and former reporters.