Newspaper industry was once known as “the last profiteering industry”. But since 2012，this “windfall profit” has gone for ever. Newspapers see fall in readership. Both newspaper circulation and advertising have declined sharply and continue to drop at a faster face. In 2014，newspaper advertising suffered the worst decline，up to 18.2 percent—a cliff-style fall known among the industry. Newspaper circulation and influence have also greatly reduced. Many talented people have left newspaper industry and newspapers have suspended publication one after another. The profitability of newspaper industry fell sharply and this would also be a hard-to-be-solved problem even if diverting to digital newspaper business. It is against this backdrop that the value and significance of investment in the newspaper industry has been highlighted. Hence，newspaper industry has quickened the pace of transition by exploring diverse ways of investing in the industry. This effort started to pay off in 2014. Advertising revenue accounted for only fifty percent of the total revenue for many newspaper groups. Increasing investment has become a main development direction for future growth of newspaper industry. This is significant because it not only provides a good way to spend the spare capital of newspaper groups and helps them gain profits in the short run，but more importantly，it points out a new direction of development for newspapers as the industry is on the decline.