You want to make money off journalism? Useful content funded by advertising is the one and only answer. If you can't make money from that, you're either not producing useful content, or you're carrying too much unrelated overhead in your company. In either case, find the place where you're not doing as well as you need to, and improve it.
Despite the popular opinion currently prevailing, the current situation in journalism is not some radical, never-before-seen catastrophe. It's good old common-sense economics at work: if you're not producing things people want, or if you're spending too much money to do it, you lose and someone else will take your place.
Find some people advertisers care about. Find out what those people care about. Give them high-quality stories about it, and don't hire any more people or spend any more money than you absolutely have to. Do these things, and you will win.