Moreover, in the so-called "real" journalism, in many cases the reporter actually has to physically go somewhere to witness what is happening, and then the total cost of producing an article is even higher, in other words journalism work is not only writing.
But still, in certain sectors like Tech or some other niches, the best outlets actually are profitable online; those are typically something between media and blog, like Techcrunch, gadgets blogs etc., where about 10 reporters are pumping out articles 24h/day, and maybe about 25% of articles can be called journalism (they called someone or went to some event).
But where this model doesn't work are general news, since they are quite expensive to produce and yet not perceived as very valuable. There it doesn't work.
But still, in certain sectors like Tech or some other niches, the best outlets actually are profitable online; those are typically something between media and blog, like Techcrunch, gadgets blogs etc., where about 10 reporters are pumping out articles 24h/day, and maybe about 25% of articles can be called journalism (they called someone or went to some event).
But where this model doesn't work are general news, since they are quite expensive to produce and yet not perceived as very valuable. There it doesn't work.