I've been running a small newspaper for the last 4 and a half years now and I've talked to multiple journalists about the future of newspapers and magazines. Some are clearly more optimistic than others. I've talked to journalists who think that most publications will only exist online in another decade however I've talked to other journalists who think that magazines and newspapers will be thriving in 10 years time.
I actually prefer reading news in a newspaper despite my huge online presence. When I'm reading news online it means that I only read the stuff I want to read. For example if I am not interested in a story on a news website I won't open it however in a newspaper you get no choice in content. You read what is there which is good because it broadens your horizons and informs you about things you wouldn't know about otherwize.
As for magazines, I love them - the feel of glossy paper, the amazing photography printed around the words and the variation of page layouts and artwork which is omitted on news websites.
It doesn't matter what I think though, it is newspaper and magazine circulation figures which decide the destiny of newspapers from the biggest national tabloid to the smallest local broadsheet.
Below is a chart showing how newspaper circulation has decreased gradually since the year 2000.
In my opinion, I agree think in a decade most newspapers will have migrated online because if something big happens you will want to read about it instantly, not the next day. Newspapers only report on yesterdays news however if they are online they can have a story on their website just minutes after an event happens. They can also have liveblogs, live streams of news when online to so readers get a wide variety of media instead of just words.
Magazines however, I think will thrive. It's not only me who loves magazines, there are petrolheads, nerds, gossips and everyone else who has a hobby or interest will have a magazine that they've fallen in love with.
In conclusion, your local newsagents will still be open for a few more years yet however nobody is sure about exactly how long that will be. Newspapers certainly don't have a bright future ahead of them though.