Craigslist costs newspapers

Earlier on last week I blogged on Craig's List as one of the most important resources on the today.

It was then reported on CNN that the the popular community Web site that generates more than 1 billion page views each month, has cost newspapers in the San Francisco Bay area $50 million to $65 million in help wanted ad revenue, according to a new study.

Read the entire news here.

Makes you wonder why newspaper still charge a bomb to advertise when we can get something similar done online.