What a load of garbage.
There’s already a proven effective model for news reporting, it’s called “free enterprise”. Gather information that people are interested in , validate that it’s true, present the facts, and get paid for the gathering and presenting” process by means of subscriptions or ad revenue. The failure of the “news media” isn’t happening because there’s something inherently wrong with that model (just ask Rupert Murdoch), it’s because much of today’s media isn’t following it, and is generating BS propaganda instead.
Find the successful media (whether print, radio, TV, online, or whatever) and you’ll find the above model is working fine.
Bias = Layoffs. Bias = bankruptcy. Bias = demanding for public funds. (See NPR and PBS). See also Mark Lloyd, and how he plans to pay for this.