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I don't think that dead-tree-format literature is going anywhere anytime soon, but for sure the distribution system has changed. As much as I love my local bookstores (and I do love them!), they just can't touch the scope and reach of big-box bookstores (B&N, Borders, etc) or online vendors (the 500-lb gorilla of All Things E-Commerce, Amazon).
There's also a whole world of new literary and artistic media being created all the time, much of it using the Internet. Online serials and novels are largely replacing the classics as popular reading. I went through a phase where if I couldn't carry the book I was reading on my laptop, I wouldn't read it. Ultimately, the immediacy and portability of the trade paperback proved the deciding factor.
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