This is hardly surprising or unprecedented. Newspaper’s print audience is literally dying off and they are pulling the plug on all the free copies they give out, all of which means circulation numbers are terrible, again. But make no mistake about it, while print circulation tumbles, online traffic grows by impressive jumps which makes one wonder what the intersection of business model transition is going to look like… more on that later.

Print circulation continues on its steep downward slide, the Audit Bureau of Circulations revealed this morning in releasing the latest numbers for some of the country’s largest dailies in the six-month period ending March 31, 2008. When a full analysis appears it is expected to find, according to sources, the biggest dip yet, about 3.5% daily and 4.5 for Sunday.

[From New FAS-FAX: Steep Decline at 'NYT' While 'WSJ' Gains]