Many people who need reputable news can't afford to pay for it and substitute the garbage they find on social media. Yellow journalism has always been appealing to those seeking distractions. Public schools should emphasize the importance of reputable sources and how to identify them. It also takes time to sort through the news to find what is relevant, or at least what is relevant to you. Most working people even lack enough time to spend with their families.
I think Gloria is correct that too many people prefer to get their news from Twitter, and other dubious social media sources. However, I question that the choice of news sources is due to financial limits. The PBS NewsHour is free on TV and YouTube every day, and it is a reliable source of headline news that is often openly questioned - often challenged with contrary facts.
There are over 50 wealthy sponsors for PBS NewsHours and none of them to my knowledge dictate the news coming from the NewsHour or NPR. I have for many decades found their stories to be fact-based and timely - far more reliable than Twitter posts. They are also usually more in-depth than 20-minute ABC, NBC, or CBS news due to having an entire hour. Fox and MSNBC just fill the entire day with stories which are full of opinionated drivel like Twitter.
I KNOW some of the people who were let go. My office was across the street when it happened. One of the producers was the daughter of one of my colleagues. Same with NPR.