I think funding mass media is less interesting than finding a way to have sustainable investigative journalism, both at the local and national levels. Investigative journalism, especially at the local level, has been hit hard by local newspapers getting shut down and the media forced to either pull out of unprofitable areas or focus on money-making ventures. Most media outlets are not the New York Times or Washington…
This applies to all media in general; but there really needs to be a better metric for quantifying impact than clicks. If writers, etc. are rewarded for advancing knowledge, then many many more people would be enabled to do so.
Hell, perhaps we don't even need a new metic, and instead just subsidize everyone with UBI. Those who provide long-term value will outweigh those who only consume.