Be it paper or as e-paper on your tablet.
But in either case, subscription costs are a lot more reasonable than subscribing to the website, and you get high quality content with only very few, handpicked, ads. Which also can't track you on paper or in the PDF
Journalism's oldest and most important role is to serve as a watchdog over government. When they start profiting from government, they'll be less likely to be critical of it.
Journalism should be supported by the free market. If people want it, they pay. If nobody wants to pay, then you either adapt or die. The really good media outlets are doing just fine (i.e. The Economist, NY Times,) those on the margins are at risk -- but that's their own fault.
State supported media has the potential to turn into Pravda (for the political party from whom they garner the most support, usually leftists,) and it generally does, albeit with much more subtlety.
Do you think the BBC is biased? ARD, ZDF? They are not.
Because they don't get paid by the government, but they have the right to collect their own taxes instead. That way they are independent, and still always funded.
How is this different than your "masters" being mega-corporations?
At least in a publicly funded organization there would be transparent checks and balances in place.
That's the best for everyone involved.
Or you need to fund journalism with tax money, directly (NPR, PBS) or indirectly (BBC, ARD, ZDF, etc).