Newspapers in the Digital Age

Way back in ancient times when I was a kid, TV came to your house through an antenna on the roof. Watching TV wasn't free, of course, you had to buy a TV, the antenna (and maybe a fancy device to turn it toward the signal), but you didn't have to pay for the signal itself. TV stations made money by embedding advertising in the signal so that watching TV meant watching the ads too, and the more people that watched a show the more money that could be charged for advertising during the broadcast.

I've been wondering why newspapers and other print media don't follow a similar model with blogs. If you go to, say, YouTube or Google video, for bloggers using standard software it's pretty easy to post a video on your blog. You click on a button, enter the name of your blog, give it the password, a title, and some text, and it posts to your blog automatically. It's really easy (and you can get the computer code as well if you prefer, as I do, to post things yourself).

Why don't newspapers and magazines do this, but embed ads in the articles just as ads are embedded in TV programs? Suppose you see an Op-ed you want to post on your blog. Just as with YouTube or Google video, there could be a button at the bottom of each article to push to post the article to your blog. In the article, or beside the article in the sidebar, ads would appear (my preference would be to give up sidebar space for Google style ads that run beside the article). The agreement would be that you can run the articles freely so long as the ads are there.

This seems to have lots of advantages. Newspapers would increase their circulating substantially as their articles went out to all the blogs, and since the ads would accompany the articles their ad revenue ought to increase. People running blogs would have free access to content without worry about copyright, etc., allowing them to collect information from various publications and specialize in particular topics (e.g. economics). Newspapers would, essentially, be like TV stations of old and blogs would play the role of TVs (though with more specialization) and receive and show the content along with the embedded ads.

What am I missing about the economics that would make this infeasible?