This paper traced the developments in the evolution of new business models for the newspaper since the advent of the internet and new media technologies by investigating developments in several parts of the world. It relied on secondary data and studies on new business models in the digital era. The paper was thus able to chart the course of business models of the newspapers right from the era of unworkable business model, the period of search for new business model and the various suggestions and experiments on new business models by scholars and researchers, to-date. The study came up with a 14-item template of business models of the newspaper in the digital era.