So first, some of the things the TFA says are definitely true. Local media is all getting sucked up by big media conglomerates. This would include newspapers, television and radio stations. It's gotten to the point that if there's a local station that is actually local, it's a point of pride they'll announce during station id, at least on radios.
It's also true that many local media outlets are being forced into pushing the viewpoints and editorial pieces from their corporate overlords. John Oliver did a piece on this some time back, it was quite good and very informative.
Newspapers are also very much struggling, but for different reasons... lack of advertising dollars and lack of subscribers as the internet has severely displaced print media, and to a degree radio and TV radio too. I believe this displacement has left nearly all of these local outlets vulnerable to being gobbled up by corporations. But it's not all corporate overlord pulling the strings here. There's a lot of garbage media out there too. Sensationalism sells ads and subscriptions. So many outlets have turned to that sort of hype to pull in eyeballs, passing by the more mundane (but important) news coverage. A lot are just plain sellouts, too, looking to get bought by a big corp for that oh-so-sweet cashout.
I for one am all for rules and regulations to come down hard on this industry to help re-balance it. Caps on allowing corporate acquisitions and mergers and all the other shenanigans going on that's diluting and tinting news reporting. Be really nice if the 'fairness doctrine' came back to balance out political messages and talk shows being blared out by all these outlets.
However, I have to draw the line at subsidizing any media outlet. This is extremely unwise. Government and their media watchdogs really need to be kept as far apart from each when it comes to conflict of interest issues. There is just no way we could ever expect any unbiased reporting from media outlets sucking on the government teat. No. Do not subsidize. Just regulate the hell out of these clowns. Break up huge media conglomerates, there's a lot of monopolization of information going on out there. Put a stop to that. But leave the subsidies to the poor and needy, not the stupid and greedy.