Used to be called a free press, until we allowed massive mergers creating single companies with control of a massive media market share, and journalism trade unions to be eliminated, leaving journalists no choice but to cover what they're told.
Despite the mergers, there are still news outlets that produce accurate and in depth reporting, and of course it's possible to consume news from multiple opposing sources, but most people either don't care about the news or only care if it gives them a reason to hate the other side.
By contrast, ad based news gets most of it's revenue from vitality, shares, and clicks. They create hyperbolic headlines aimed to create an emotional response (usually highly negative) in order to induce people to click in a rage.
"Where do rich people hide their wealth in the West?"
"In tax havens."
"And where do they hide it in Eastern Europe?"
"In plain sight".
A free press won't do squat if there is no consequence for the behavior they expose. If neither the public nor the courts punish such behavior having a free press cover it will amount to very little.
(American here, so I don't know. But the idea seems insane to me.)
That is a lot. Look at the competitive landscape in other industries. There are basically 4 tire companies, 4 or 5 home builders, 6 or so mobile handset manufacturers, 4 or 5 US based airlines... You get the picture. And all of those industries are still decently competitive.