Why do people say boxing is dead and MMA has taken it's place?

Boxing still dishes out larger purses mainly derived from ticket and pay per view sales so it clearly has a large fan base, the purses are in the hundreds of thousands to the millions. Boxing champs are recognized world wide. It clearly has a following so why say it's dead?

Anonymous2012-11-28T16:14:52Z

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Like our world has changed so has sport! People want faster, more risk and more excitement and MMA gives that to them!
Yes boxing still has followers but its mainly older generations.
So if the young are MMA followers and the young are the future, then so is MMA!