Business news is definitely one area where people are willing to pay more than the norm. That’s why Bloomberg still makes money selling those terminals/access to said service.
As well as why the likes of the Financial Times will probably last longer than the New York Times or Times.
But it’s probably cold comfort to the media in other fields, since most of those can be replaced by free sources, and (especially in tech, gaming and media in general) almost entirely have been.
General news probably also falls into this ‘doomed by free competition’ bucket.
Fake news is an issue, though it’s really been an issue for a pretty long time, especially in countries where the media doesn’t have much of a reputation for taking their job seriously. The average UK tabloid is pretty much on par with a typical fake news source for instance.
What’s more, the issue is that while logically a reliable/trustworthy media outlet should be able to charge, in actual fact the average Joe has shown they don’t care how accurate something is if they’re not paying for it, and doesn’t seem to have much interest in paying for something when ‘good enough’ alternatives exist for free.
It’s like on mobile really. In theory, we could get decent mobile apps if people paid money for them, and companies just sold the apps without ads, in app purchases, spyware, etc. In practice however, those who have tried to sell such apps have found a very limited audience for them, while the dodgy ones get a ton of downloads and installs because they’re free and convenient.
Even Nintendo had issues there, saying they’d be reconsidering their strategy after Super Mario Run didn’t meet expectations and games with more mobile standard payment setups (like Fire Emblem Heroes and Animal Crossing Pocket Camp) made a lot more money:
How Super Mario Run 's lackluster sales are changing Nintendo's mobile strategy
Mario's first foray into the mobile gaming world failed to meet Nintendo's initial expectations, but the company hasn't…
The problem is, just like with apps, the majority of the population doesn’t seem news as being something worth paying for any more, and the percentage who do care about accurate or trustworthy news isn’t enough to support large media operations.
Fixing this will be challenging to say the least.