The reason that journalism has gone downhill is the advertising model has changed and newspapers and broadcasters are not getting the advertising they used to and as a result are either shutting down newsrooms or the ones that remain are a fraction of what they used to be.
The advertising model is only one problem. The subscription model is another problem. They can be taken together as a single problem - re-balancing the proportion of revenue from each.
What's killing the journalism business is that so many journalists insist people should read the stories journalists want to write. That's the equivalent of vanity publishing at worst, or authoring the kinds of books that are destined for the 10-cent bin by the door at best. There isn't really room to break in with another echo-chamber agency; people who want that only have to subscribe to a couple of the existing major agencies to get their fill of daily blinkered self-reassurance. That leaves only non-echo-chamber journalism, and that means setting aside the preferences - especially the political and social preferences - of journalists.
There also isn't much carrying capacity for a fat layer of middlemen and administration.
The people working as independents (ie. without a lot of overhead) who also tend to write stories that set the teeth of the political establishment grinding (along with the teeth of people who for some reason are deeply invested in that establishment no matter how it behaves) are doing well enough.
I can't be sure what kind of broadcast information people like to consume. My preference is the kind of thing I once saw on a relative's subscription service: one guy, reading teleprompted/written copy about the critical points of the major issues of the day, recycling approximately every half-hour. No inane babble between two or more presenters physically present making stupid jokes or chatting about their pets; no pointless human interest angle based on an interview of one of undoubtedly thousands of possible sob-stories consuming 90% of the segment time. "Talkies" are information-sparse to begin with.
The sooner that the channels that waste time with chit-chat between the trained monkeys fail, the better. The sooner the agencies that don't focus on the bones of the major issues of the day fail, the better (CBC news include). All the resources they have tied up will be freed for other uses.