Damon has written an opinion piece for Pitchfork on underground media in the wake of the closing of The Boston Phoenix. I'll not try and summarise it here but head over there to read it.
I will lift the Galaxie 500 bit for a quote though!
“What do you want?” asked the first record company executive who bothered to sit down with Galaxie 500, and began to offer us choices: a new car, our faces on billboards… As he got to the bottom of the list, he suddenly brightened and said: “Oh, I know. You’re in it for the music.” (He must have figured he was in for a bargain.)