I have been reading newspaper everyday for as long as I can remember. I am thinking of canceling my subscription( I read Hindu in India).
Reasons to stop:
1) By the time I get the newspaper next day most of the news I had already read on line.
2) Most of the news is not useful or uninteresting to me like crime, bad road, CM inaugurating a new flyover etc etc.
3) Too much paper to handle, I live in a small apartment, clean it once in a week and I have paper scattered all over my place by then.
4) The time I spend reading can be used to read something more interesting to me.
Reasons not to stop:
1) Will miss out the editorials.
2) Will miss out the weekly magazine and monthly literary review.
3) Will miss the daily cartoon strips (Calvin n Hobbes fan).
All of the above can be still read on line but I don't think I will be really doing it. There are more interesting things(like read Hacker News, reddit etc) to do on line :)