In the same way that 500 cable channels and 24/7 news networks hurt local TV news.
When I grew up my TV reception could only turn into 3 TV stations, and we had one real paper: the Baltimore sun. There was no choice but to consume them by sheer convenience.
As soon as cable and internet virtually eliminated barriers due to geographic distance the dominance of local media with a guaranteed audience was ended.
Even without search, the internet put national And global newspapers at the touch of individuals. The idea that exposing your local outlet to the ease of accessing 1000 competitors wouldn’t have hurt them is dubious.
That's not coming back. Any journalists who think the 'old world' is going to survive in the internet era are flat out delusional. You cannot undo time and technology, and you cannot try and freeze society at the turn of the millennium.
Hence the solution isn't to throw money at all these sites and publications, especially given they almost certainly won't be sustainable in today's economic climate. It's to find new ways of distributing information for a new generation, one that doesn't involve ads, subscriptions or newsrooms full of wriers.
We might laugh at BuzzFeedNews, but probably millions of people grew up on BuzzFeed, and for them it was probably more reputable than let's say the NYT.
That said, independent sources, cross-verification of information is going to be a big challenge, especially as fakes/faking become more important. (Eg in a war zone. Was it a false flag or not? Did that rocket attack happened at all?) Even though AI cannot [yet] understand it, it's perfect for looking for similarities and similar posts. (So if someone sets up a system that ingests the twitter + FB + YT firehose for example.)
That’s the crux of the issue – there is fierce competition in the ad industry where almost everything is swallowed by the big players, but they don’t deliver the service the local media did. At all. I would love to be superseded by a better newspaper, but that’s not what’s happening.
This is a completely different matter. Here you are giving examples of services getting replaced by a better competitor. How does Google or Facebook improve on local journalism? They have just destroyed an important public service with no viable replacement in sight. The situation has maybe improved for the advertisers, but the public has lost a big time.