To paraphrase Mitch Hedburg, sure, they used to. They still do, but they used to, too. But now there are fewer of them.
>Investigative journalism is alive and probably better than ever before despite being less profitable than wildly irresponsible opinion masquerading as journalism.
This strikes me as kind of a crazy claim, but in the grandparent I was bemoaning the decline of functional local journalism. The rot hasn't really, truly hit big newspapers in big cities; the parent's citation of the continued existence of the Pulitzer Prize for Investigative Reporting kinda doesn't change the realities of the local news, the decline of which is evident, well-studied, and heralds corruption of both democracy and mere finance.[0][1][2]
I've linked blog-level readings, but feel free to scrutinize the links in the Global Anti-Corruption Blog article [0] for more academic analysis on the topic.
Look to groups like Alden Capital [3], which buy up and destroy small-town American news sources. You'll find that those disappearing local papers used to pen most of the original reporting in the US. It's so fucking evident that mainstream institutions like PBS and NPR and even Netflix recognize it -- namely, "The Patriot Act with Hasan Minhaj" [4] on exactly what I'm talking about.
[0] https://globalanticorruptionblog.com/2021/01/25/the-decline-...
[1] https://niemanreports.org/articles/less-local-news-means-les...
[2] https://www.wgbh.org/news/commentary/2018/06/06/a-new-study-...
[3] https://www.npr.org/2021/10/18/1046952430/the-consequences-o...