My preference would be for consumers of news to pay for that news. This aligns incentives and gives us power to choose the media companies that serve us best. We're seeing part of this transition with all the news orgs putting up paywalls and name-brand journalists starting their own Substack.
But I don't know if this will work--are there enough people willing to pay? I subscribe to 4 streaming services (Netflix, Disney, Apple+, and HBO) but only one news source (NYT). And I've never been tempted to pay for a journalist's Substack, no matter how talented. That's a revealed preference right there.
Maybe the answer is to bundle entertainment with news. If each of those streaming services came with a news channel and cost an extra $2 per month, would I subscribe? Maybe.
Of course, that's how it used to work!