This is how newspapers and magazines worked before the internet.

I think it is more important to break the cycle of consumerism and instead focus on community partnerships. Eg. On public the radio today, hosts won't tell you how a company will make your life better with false promises. They simply say, "this programming is brought to you, in part, by [ community partner]"

This informs listeners of community shops that also believe in the value of news, without all the nasty tactics of advertising and manipulation. It is a model I can support, but it has struggled on the web were it is so easy to prey on users.

Also, sponsorships are not enough to sustain a site or syndicate with living wages. They also require individual donors, corporate donations, and charity from wealthy donors. Corporate and wealthy donors unleash a second set of nasty conflicts that need rooting out imo