Here's a crazy thought! Maybe they could provide content interesting enough that it would bring in the ad revenue to sustain them! Like every other bit of journalism on the webs.
The fact is that the old school of journalism is like the old mechanical calculators. The world has changed. It will never go back. Access to information has never been as easy as it is right now. Newspapers worked because it was hard to distribute information in the past. That's simply no longer the case. Its SOOOOOO fucking easy. Not just that but there are a lot of people who, while they might not be on par with a wall street journal quality journalist, are not that much worse, and are willing to do the same job for much less in the form of a blog, a twitter, or whatever. So why should I buy the cow if I can get the milk for free?
Traditional news sources can survive, they just have to change. They have to be interesting. They have to be smaller, faster, more versatile, and less restricted. They have to stop paying people assloads of money. Or they can become infotainment, parade as news, and bring in listeners by entertaining them with highly polished biased journalism people will eat up. Notice that the latter is what most major television news sources have already done.