An article is to a newspaper as a track is to an album
But does it necessarily mean that content is dead just because newspapers and magazines are effectively dead? A newspaper column is to a newspaper as a track is to an album.
The music industry has gone through a very similar transition as newspapers and magazines. Albums are definitely dead. Labels are pretty much dead. But music is flourishing! Fans can purchase tracks for a $1. A band of two like Ghostland Observatory or Trifonic can create amazing music that used to take bands of at least four.
Distributing a music video means an upload to YouTube, not a deal with MTV. Artists connect directly with their fans on MySpace. Launching a new band means converting a few bloggers who love music instead of faceless label executives. Music spreads virally through social networks as fans post the music to their profiles.
Perhaps content has become irrespective of medium in our multi-channel world. I would read Virgina Hefferman's column if it was a blog, on nytimes.com, a note on her Facebook page, or part of the paper Sunday NYT (the last paper product that I actually read!). Does content die with its old school medium? It hasn't happened for music or video, it shouldn't happen to thoughtful written analysis. With hyper-targeted advertising, soon a columnist should make as much money from a blog and speaking/consulting work based on the blog, as he or she would be paid by an old media entity such as the NYT.