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Mags and newspapers won't be "saved" by e-books until (unless) they come up with a presentation format that optimizes the electronic reading experience. Most of them haven't even tried to do that for the web, or if they have, their web-formatted magazines tend to be poor substitutes for the printed version.
(Caveat: I realize there are sources like Texterity, that essentially turn magazine pages into zoomable pictures. Some may like that, but I don't consider it optimizing for electronic formats. It's basically an online substitute for print.)
I do believe we will eventually see a magazine create an e-book-optimized format for presentation, something that will work so well that other magazines and newspapers will emulate it in time. But we seem to be along way from that, and we can expect a few papers and mags to go under before it gets here.
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