Capital released: Their buildings (almost always in industrial areas) probably won't bring much at the present time, and there can't be any market for their used machinery.
Expenses saved: Most variable costs (e.g. paper, ink, etc.) will stay the same. The newspapers will reduce their number of pressmen, only to replace them with trucks, truck drivers, and fuel costs.
The trade off: Most newspapers try to hit the street at about the same time -- early morning hours. In order for their new printing plan to work, they are going to have to stagger release times (not everyone can print their material at the same time). This will give certain operations (those who own the presses) a significant competitive advantage.
Bottom Line: I suppose desperate times call for desperate measures, but it seems to me like our friends are clutching at straws.
Linotype machine, circa 1920
Kansas City Star printing plant, circa 2006