The real value of newspaper was never the news; it was the paper. The moneymaker is the platform, not the content.

Once upon a time newspapers were the platform, and they made quite a bit of money selling access to eyeballs. If you wanted to get a message in front of a lot of people, you had to pay a newspaper to do it.

Now on the internet they don't own the platform anymore - tech companies do. Newspapers are just content creators, a much less lucrative business to be in.