@whylamb unsurprisingly I think it takes a grassroots movement of a few people who want to take on the issue full time and a few thousand who are happy to chip in to make it work, ie subscribers, distrubitors and those all important advertisers.
There are a couple of examples where there's a local paper competing against the murdoch press to provide actual local news. Check out:
https://www.naracoortenews.com/
https://thenorthernriverstimes.com.au/
https://www.orangenewsexaminer.com.au/ (online only)