This is far more than "It's Facebook's and YouTube's fault" .-) I have to link to two great, long reads from the Guardian that are totally independent from each other but, of course, are connected closely. The first is Alan Rusbridger's (ex editor in chief of The Guardian) look back into the last two decades, analyzing what happened to the news business (and why it did). Although I don't agree with everything, it is very interesting to see this from an editor (and not a manager or digital strategist). That's something that has changed, too - awareness for the whole process of producing and monetizing news among those reporting.
Take a lot of time for this one:
The second read is about algorithms: what they are, how they function, and why they can unfold an impact that is both unforeseeable and and not easy to control/direct. This goes far beyond the news business - but helps to understand media, too, among other things: