Television and newsPAPERs were viable businesses before the advent of the internet. And on the internet, the need to spy your reader is also quite new.
What makes privacy-sensible internet newsmedia nonviable might very well be the much more profitable spying on the client. If regulation makes that competition illegal, and demand for news is unaffected by GDPR (and why wouldn't it be), then it becomes more difficult for advertising companies to find newsmedia that provide tht extra illegal profit-taking sugar, so they will go back to more traditional advertising plans. This, in turn, will make newsmedia's lives easier in regards to finding advertiser's that do not demand spying on their readers.
At the end, sellers still need to advertise, providing ads supply, and readers still demand free newsreading, providing ad demand. The market still exists.
What makes privacy-sensible internet newsmedia nonviable might very well be the much more profitable spying on the client. If regulation makes that competition illegal, and demand for news is unaffected by GDPR (and why wouldn't it be), then it becomes more difficult for advertising companies to find newsmedia that provide tht extra illegal profit-taking sugar, so they will go back to more traditional advertising plans. This, in turn, will make newsmedia's lives easier in regards to finding advertiser's that do not demand spying on their readers.
At the end, sellers still need to advertise, providing ads supply, and readers still demand free newsreading, providing ad demand. The market still exists.