This guy seems so over the top and self-contradictory. In his drive for infinite profit, he insists on funding a TV show with failing ratings.

Then I think back to libertarians funding ridiculous ventures of their own. This guy actually exists.

There's a long history of fascists taking the same set of facts that leftists use, and then running in completely the opposite directions. Nazis would tell you that the banks were terrible institutions sucking the life out of the working class, and then take a sudden turn and say "and they're all run by Jews".

OP is a chud. Check their post history.

what is it?

I think it's actually you who are misinformed, to an extent, as you're painting with a brush so broad as to disregard the value and integrity of journalism entirely.

The news having changed is certainly true. For instance, the abolishment of the Fairness Doctrine in the US in 1987. It "required broadcasters to devote some of their airtime to discussing controversial matters of public interest, and to air contrasting views regarding those matters."

Furthermore, as "the fourth estate," at it's best journalism serves as a check on the power of the state and power - especially corporations. The muckrakers of the early 20th century, like Upton Sinclair, raised public awareness of corporate monopolies and unsafe worker conditions. Journalism was instrumental in fostering the knowledge and will necessary to claw workplace rights and protections from the rising capitalist class.