As per the media reports, nearly 20% of the web content would be locked down by the National Business Review from tomorrow, and only paid subscribers would be able to have access over it.

The move, according to NBR publisher Barry Colman, is driven by the belief that laying off journalists as a cost-cutting tactic is a route to oblivion for newspapers.

He specified: "What we will be introducing tomorrow will not make the mistake of providing journalism as usual and charging for it. We know that we will have to provide a consistently superior news service and I believe you will quickly see we are up to the challenge."

The move was described as the tipping point "in the Great New Journalism Adventure", by Mr. Colman.

The present media models have been experiencing a profitable scene due to the supply of free news copies. Mr. Colman said that this has generated a huge band of amateur, untrained, unqualified bloggers - pouring out columns of unsubstantiated 'facts' and hysterical opinion.

Mr. Colman concluded: "Most of these citizen journalists don't have access to decision makers, and are infamous for their biased and inaccurate reporting on almost any subject under the sun - while invariably criticizing professional news coverage, whose original material they depend on to base their diatribes."