Fewer readers. Not less readers.

Exactly Mark. As a correspondent, I used to rely heavily on very expensive news aggregators to find out what was happening on my patch. Twitter has replaced that and I think I'm even more on top of things (read: I'd be happy to pay for some of the feeds or the service in general). Every time my friends bag on Twitter I point out how it's revolutionized my job. The papers that don't Twitter? I don't quote their scoops because their competition copies them -- and twitters them -- before I ever get around to checking non-twittering papers as secondary slow-day sources.