1/ "News" is non-rival and nonexcludable, particularly since the need for printing presses and trucks disappeared. For example, news that a pier in SF is on fire isn't excludable. Great writing about why the pier caught on fire, who was involved and what it means is excludable.
2/ There is a market for a Substack style newsletter that dives deeply into the causes, implications and people involved in fires. That newsletter can be a business because it is excludable (it is possible to prevent consumers who have not paid for it from having access to it).
3/ The New York Times is a collection of Stratechery style newsletters on various topics written by people who are employees of the aggregator. How many people read the New York Times to learn things like there was a huge fire somewhere (just news)? They read it for the analysis.
