Repackage your archives. Partner with other content providers to develop unique product. If I knew that, I would have made by MBO by now. Charging for premium sites like auto archives. Classified, classified, classified.
Interactive content drives traffic.
Partnerships are essential. Subscriptions will eventually be realistic for some services. Determine costs of each new feature and sell sponsorships. Stick to what you know. Newspapers should concentrate on moving their print products to an online environment as opposed to going into the web site building business.