Wow very surprised this went through without much press. Great move by the Dolans, they got a $1.1B premium over the valuation. Not surprised about print media's decline, this has been going on for a while.
There has always been an elitist attitude in print, while the writers certainly don't control the business side of things, most print publications have been in decline for years. Look at the NY Times.
Similar trends are taking place with cable, ESPN has been suffering greatly and the cordcutters have taken over.
The gem is in internet subscriptions, now the move towards wireless data, and better plans through the air are a short while away, so there could be a decline in consumer internet users among the non media consumers (those that don't need gigs of data to get by).
The Dolans were very smart to pull the trigger on this, they were in a situation where a lifestyle business (MSG, Knicks, Rangers) were actually worth more than what people would refer to as a cash cow in cable vision.
For the French company, its a guaranteed and safe cash cow, for the Dolans, they took something as far as it could go as its current construct. Now the buyers are leaning down by cutting the fat and will run things their way.