Seeing your company’s name on the front page of a newspaper does merit a level of prestige and carries a good level of clout.
And, the mere fact that printed space is limited on a paper is just another confirmation that you are beating you competition out of potential news coverage. For this very reason, we see that business owners are compelled to want coverage in hard copy. But in contrast, the media outlets online are far more ubiquitous.
Because of this, Internet coverage should also be taken into serious consideration when reaching out to the media. The time is not too far distant (in fact rather soon) when people are going to prefer to receive their news electronically over hard copy. What media outlets are your target audiences reading? Do they prefer electronic media?
With media changing as it is right now, it is important to know your audience and to know where it would be to have successful media coverage.