Note that this article compares the costs of printing all copies of the New York Times to sending only subscribers free Kindles.

I started this post expecting to explain how this made the NYT's printing costs sound a bit more reasonable. Then I found that according to Wikipedia, which cites a 2007 release by the paper itself, the daily circulation of the New York Times is 1,000,665 Daily and 1,438,585 on Sundays. I am honestly quite surprised that the number of papers sold at newsstands and vending machines is therefore under 200K on weekdays. Using these figures and building off of SAI's estimates, the cost of printing copies just for subscribers is probably about $503 million, or still enough for just under 1.7 kindles per subscriber.

Note also that neither bandwidth costs nor the costs of delivering papers is counted. I presume factoring this in would make the print newspaper look even worse.