We've discussed much of this before, and Mizzou's point about Deford blowing the budget is fair. FW's example of Feinstein flying home from France to take care of his cat, if true -- and coming from him, I'll assume it is -- is madness. If people who worked there felt he was lighting money on fire to warm the offices, I have no reason to doubt their opinion that it played a role in its demise.
But fish nails it. Infrastructure. How do you print a daily paper in one part of the country, and distribute it in downtown L.A., Dallas, Miami and New York? And who wants to buy it in LA if it never has any of the Dodgers, Angels, Lakers and Kings scores because it closed too early?
The National was a beautiful thing, and one we should all remember fondly. But essentially ESPN.com, especially since they've started doing E-Ticket takeout stuff, is essentially the modern equivalent of The National. Does it have Peter Richmond and Charlie Pierce writing takeouts? No. But it's probably about as close as you can get in a daily format.