Lorin Stein has been blogging at The Atlantic on the topic of publishing. As one would expect, it's excellent. After discussing the the death of book reviews in local papers, Stein says this:
I left book publishing to edit The Paris Review because I think the situation can be dramatically improved. Not in the high-stakes game of bestsellers and Time covers, but down here on the ground, where reputations and markets are built and readers make up their own minds. I want there to be a magazine where fiction and poetry come first, where there's no hype, and where the aim is to reach the 100,000 people who, a few years ago, had never heard of Roberto Bolano—but whose lives have been slightly changed by his fiction.
Stein writes often at The Paris Review's blog, by the way. They do good things there, they do.