Yes and no. It's hard to escape ads even by paying for things, with cable TV being a common (though increasingly outdated) example.
If they are willing do sell you to data harvesters then that won't be the only unethical thing they are willing to do. Be thankful that they have voluntarily outed their publication as untrustworthy and move on.
You were splitting that cost with the advertisers.
This is not a defence of advertising, just a reality check on this bad example.
In the US, at least, I think the lack of competition (almost monopoly pricing in most areas) has led to exactly the opposite situation - plenty of profits for the cable providers.
Do you have evidence for the claim that the monthly fees are not enough to cover the cost of providing the service?
I tried to find numbers but couldn’t, so I’m left with a macroeconomic argument. Better details would be welcome.