Slightly differing perspective:
Newspapers and Google/Facebook (hereinafter "Big Tech") are not competitors, regarding the product of news. The former produces news, the later does not. Access to news can be sold. Readers will pay for it.
The question is what exactly does Big Tech produce that is saleable. IOW, what does Big Tech produce that can be sold. What do they produce that people will pay for. With respect to news product, Big Tech are intermediaries, what we colloquially refer to as "middlemen".
Newspapers may be willing to provide some news "for free", e.g., via a website. However newspapers also can sell subscriptions. Newspapers have a saleable product. The saleable product is what attracts an audience, irrespective of whether readers are paying subscribers or not.
Big Tech generally provide access to the work of others "for free". Generally, Big Tech has no saleable products (cf. services) of their own labour. Any audience that Big Tech attracts is reliant on the products of others. Big Tech generally does not produce the content it uses to attract an audience. The content belongs to someone else.
To any reader who sincerely believes Big Tech has "products" (cf. services) of their own labour, please consider how much revenue could Big Tech "earn" without acting as intermediaries for the work product of others. IOW, how much revenue could Big Tech earn solely from selling their own "products". Would Big Tech still be "Big".
NB. "cf. services" as used above means please distinguish products (tangible) from services (intangible).