Democracy needs real journalism to function. Having all the rich people own all the journalists isn't going to end well. We need to find a working business model for journalism that doesn't rely on rich folks.
I think news outlets need to be run as a non-profit to remove the types of people with aspirations of wealth, instead of aspirations to report and inform the public, from the sector.
Usually rich folks buy newsrooms not to make a profit, but to control the narrative.
No journalist joins a newsroom to become rich. Famous, maybe, but not rich.
The business model used to be advertising, but the internet destroyed that model. And we don't have a replacement, while democracy doesn't work without someone holding the politicians to account.