It's a variation on the old riddle, "What's black and white, but read all over?" If you change one word and add two others, the answer to the resulting question -- "What's still mostly black and white, but red all over?" -- would be, based on just-released information about their daily circulation, "all but one of the nation's top 25 newspapers turning in comparative numbers."
The figures come from the newspaper industry's Audit Board of Circulations (ABC), and cover the April-September 2009 time period.
Here are a few paragraphs from Michael Liedtke's coverage of the carnage at the Associated Press, which depends largely on newspaper subscription fees for its lifeblood. Note the "so far" reference in Liedtke's third paragraph:

In his latest push for a health care overhaul bill, President Obama spoke to doctors in the White House Rose Garden yesterday. Painting a nice picture of the event were many media outlets that neglected to mention the White House's doctoring (forgive the pun) of the audience in an attempt at a powerful photo-op.
There is a charge floating around out there that President Barack Obama knew in advance about the radical background of Van Jones before appointing him as his "green jobs czar." So where is this charge coming from? Glenn Beck? Nope. Fox News? Nope. This revelatory charge was made on the pages of the liberal San Francisco Chronicle in an
As
Global warming warning! Be on the alert for the attack of the invasive weeds! 
The reader might be warned that reading this
Last year columnist Mark Morford of the San Francisco Chronicle turned himself into a national laughingstock with his comical claim that Barack Obama was some sort of "enlightened being," a messianic
When an editor of one of the nation's most liberal newspapers is disgusted by the media's sycophantic adoration for President Obama, it's a metaphysical certitude the press's behavior has so deviated from anything close to journalism that the entire industry should be put in a time out.
ABC’s new series "The Goode Family" poking fun at liberalism and political correctness has predictably been greeted with disdain by the establishment media.