A content-based website is extremely cheap business to start, as far as running businesses goes. Seriously, you don't need any capital whatsoever, no offices, machines, just pay someone to set up a website. Millions of people start all kinds of businesses in this country every year, often much poorer than journalists.
The reason they don't do this is because running a content-based business is much harder than they claim it to be, and it's easy to claim things when you don't have skin in the game: when the venture-capital owned company goes under, they'll just get another job, while if they start their own business, pool up some initial capital and work for free for a few months until they make enough revenue to pay themselves reasonable salaries, they're risking much more.