How did a news organization work in the old days -- before the Internet?

In the past, a news organization repeated the following daily pattern:  

1. Reporters wrote the news stories 

2. Editors selected the news stories that readers might read.Editors might hold meetings with readers to collect ideas for new stories.

3. Editors edited the news stories before printing to a newspaper.

4. Editors layed out where the news stories should appear on the paper.

5. Printers ran the print machines to produce many copies.

6. Printers double checked the quality of the print for legibility.

7. Muscle men loaded the bundles of newspapers on to trucks. 

8. Truck drivers dropped the bundles ... off at specific sites -- on time.

9. Paper boys picked up the bundles of newspapers and delivered to the homes.

10. Distribution managers organized the paperboys to pick up the money -- on time.

11. Paperboys picked up the money and delivered to the distribution managers.

12. Paperboys kept their receipts for the money passing through their hands. 

13. Readers read the paper.

14. Readers ripped out pages of the paper. 

15. Readers shared some pages or stories with friends or kept pages for reference.

16. Distribution managers picked up surplus news papers.

17. Distribution managers counted the money.

18. Distrbution managers deposited the money for the the news organization.

19. Editors wondered how many pages were actually completely read.

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Does the above adequately describe how a news organization worked in the past?

But, more importantly, how does a digital news organization work now?