The Palo Alto Weekly today asked readers to pay $5 a month to support the cost of operating its print and online editions. The Weekly, founded in 1979, operates in a competitive city with two daily newspapers. “As more residents turn online to stay informed about the community, and businesses rocked by the recession suspend their advertising or turn to inexpensive marketing alternatives, the traditional business model that allowed local journalism to be almost solely supported through advertising is quickly evaporating,” said Weekly Publisher Bill Johnson.