There isn't any money in printing and distributing newspapers on Monday, Tuesday, Thursday (except Thanksgiving, and those ads could be delivered on Wednesday), Saturday.
There isn't a daily paper anymore, they are just going through the motions.
ST will likely go to a three times a week paper. If they don't, someone else will.
The thing that newspapers online and plenty of web-only newsy sites don't do very well is be a fact aggregator. Rather than write a summary of a city council meeting a site should link through to agendas and schedules, maybe get a little reader feedback on what they want more information on an event they see on a calendar, and send Reporters (they are like journalists, only they use more facts) to those events.
There is a lot of free data out there, and I know that the vast majority of people are unlike me, they are not about to look at agendas and watch the video feed. But knowing that something is going to be discussed or decided is pretty useful information.
The ST cornered the market on columnists, but opinions are like assholes. Another dumb investment.
Going and getting actual news has actual value. Deliver it when it is profitable, like The Stranger.
Welcome to the future.