Early on, Baron refers to falling circulation, citing competition from other forms of media, including the Internet. This is reinforced in the scene in which Ben Bradlee Jr. calls in all the reporters to watch the televised news of the September 11 attacks as it was being broadcast live. The fact is that everyone who was at home that morning turned on their televisions and everyone who was at work jumped on the internet to follow breaking reports as well as live-streaming video reports via the handful of sources available at the time, such as MSNBC. As for newspaper subscribers, most of them had to wait for the following morning to read reports, although some papers released special editions that were home-delivered. The sole advantage of the newspapers was that they could include not just text but maps and charts that they could refer to as they read the articles. Meanwhile, the Internet could provide the same and beyond that, it was being continuously updated plus there were hundreds of news sources that were instantly available over the Internet. The 9/11 attacks highlighted the value of the Internet over newspapers. This was a pivotal moment that saw the fortunes of newspapers begin to fall precipitously. Within two years, most newspapers did not only shrink in page count, but physically as well, with very few continuing with the classic "broadsheet" format of 23.5" × 29.5".

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