Who says young people don’t read newspapers? Not Student Monitor. Their 2005 study found that 71% of college students read the school paper at least once a week. Now Ford Motor, Microsoft and Wal-Mart are buying advertising, and newspaper conglomerate Gannett just bought its first college newspaper that serves Florida State University.
MTV is buying Y2M, which hosts web sites for college newspapers.

WSJ.com: Big Media on Campus, 2006-Aug-9, by Emily Steel (pay)

Hip, local, relevant and generated by students themselves, college newspapers have held steady readership in recent years while newspapers in general have seen theirs shrink.