That said, when asked if newspapers are dead, Hollingsworth answers with a definitive "no."
She said newspapers continue to matter because they provide trusted news and information.
"We envision communities growing and thriving directly because of the information we are providing every day," she said. "We are in the greater good business."
How that information is delivered is changing. Actual newspapers continue to provide the bulk of revenue, but online advertising is growing more than 20 percent a year. And delivery platforms are expanding to include every kind of mobile electronic device.
"The printed product reaches 75 percent of all adults over 30 days (in Green Bay). I wouldn't go tossing that away," she said.
Readers 45 and younger, however, show a growing preference for digital delivery and the industry is responding. News organizations are remaking themselves to become instant news providers in any way the reader wants to receive it.
"Is it working? I don't think any of us know fully yet. We are in year two or three of a five- or six-year process," she said. "Our customers, in the very near future, will subscribe to our product (available across all platforms). We deserve to be paid for the high value we bring."
Her recommendations for guiding a company through change include:
» Get cost structures down. Stabilize your core business. Look at what you have to do and what you can outsource to others.
» Fund the old way only enough to sustain the new. Put the rest of your assets and resources into new investments.
» Be bold, innovative. Empower your team to act.
» Find new revenue streams.
» Solicit and hire new skill sets.
» Make sure you are surrounded by the best people.
» Ensure that any one of your employees can explain your vision to anyone.
» Prepare for the worst case. Understand the trends and listen to what that is telling you. Multiply the worst case by two and prepare for that.
» Don't sugar coat. Get comfortable with the uncomfortable.
» Act in the long term while managing for the short term.