This followed the widespread circulation on the Internet last week of a cartoon.

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Those declines have become common to the newspaper industry as a result of shrinking circulation and migration to the Internet.

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Meckler's five-year-old publication, Internet World, now has a controlled circulation of 125, 000.

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The Internet is eviscerating the newspaper business, undermining both circulation and advertising.

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Lee Partners and Bain Capital, reflects a sense among investors that the slowdown in newspaper circulation and ad spending amid growing competition from the Internet is not going away anytime soon.

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