While traffic to the home page of CNN.com is higher than ever, "my hunch is that people go to it more out of habit than they do out of love," he says. Love, in fact, is exactly what Mr. Estenson is pursuing. As newspaper revenue collapses and television revenue stagnates, every media company is rushing to reformat news for the digital generation. To that end, they are placing expensive bets in the hope of answering two pointed questions: How will news organizations continue to sustain themselves? And what will the digital newsroom of the future look like?