A drop in revenue is indicative of a falling readers, this is because people are getting their news elsewhere. I do not think it's a financial issue for its readers, all papers are competitively priced and their website is still free and just as easy to access. I think the fall is due to the opinions the paper pushes, it's no longer the liberal paper it once was and I can't give it the same credit for it's rational. I think it's sanctimonious of it's critisim of soceity and the world.
The UK propping up failing businesses when consumers have gone elsewhere is a line we do not want to go down again. The world is changing, it needs to change with it. If people don't buy your paper because you're vilifying bankers and tax dodgers (whilst parting in it yourself no less) whilst defending the dregs and Socialist Dinosaurs then it's time to change your opinion if you want to stay in business.