People will not want to buy a newspaper every day to find out about (normally) boring news, such as if a dictionary wants to add an extra word to their tomes or if Comcast and ESPN are in an argument over profits, when they can just get news online for free. It is much more convenient to be able to read news online.
Most people read the news to get a better sense of what is happening around them. They don’t read it for an in-depth analysis of topics. Therefore, a quick scan of a short article is normally all that people desire.
Finally, advertising is much more effective online, where the advertisements are scrolling down next to the text. There, they are visible yet unintrusive. In newspapers, the ads are normally grouped together in an advertisement section. Most people simply skip over this.