This is true, though the point is more that news organisation don't seem to be possible to run as for-profit entities in the long run.

I'm well aware of issues with not-for-profit / NGO organisation and charity:

https://news.ycombinator.com/item?id=31493135

https://news.ycombinator.com/item?id=28044444

And specifically addressing information / publishing:

https://news.ycombinator.com/item?id=27802315