It depends what you mean by the news.
There is print media, which makes money from advertising and sales
There is cable tv, which also makes money from advertising and sales (cable isn’t free)
There are companies like ABC, NBC, CBS, Fox, which sell their content to for profit tv channels.
Those same tv channels tend to produce their own local news segment. All of these channels revenues come from advertising.
There are also groups like PBS, which is a non profit, and produce content for non profit tv channels
(Note: im not an expert and not 100% confident in this answer)
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