The Cleveland Plain Dealer on Cleveland.com (June 10, 2006) had an article that highlighted the struggles that college yearbooks are having in the digital age and how they are fighting to survive.
[UPDATE]
The original article no longer exists.
The Cleveland Plain Dealer did publish an additional article on this subject on March 1, 2007. MEMORIES GO MODERN
Mirroring high-tech generation, school yearbooks make digital leap
Bill Lubinger
Plain Dealer Reporter