Hate to see what was Newsy go away, but the retransmission money from the TV providers definitely helps to "prop up" the cable news networks, unlike the over-the-air (OTA) counterparts. The retrans money itself is drying up, though, so it's not a long-term answer.
Look at News Nation. Viewership may be low, but Nexstar eliminated the pre-existing syndication costs, already had the "Superstation WGN" distribution, and doesn't stream it or place it OTA. There's tradeoffs; you get some money, but the audience is also limited because of the so-called "walled-garden" of TV subscribers.
Too bad Scripps News just doesn't cut back on the live programming or enlist help from its stations to keep it going. Personally, I believe more news sources is good for democracy. We can always argue about news fatigue and reputation, though, which is understandable.
I also wonder how well Scripps News monetized its streaming. When I watch the local stations, it's more PSAs and promotions than advertisers and programmatic to make some $$$. They don't even leverage Zeam for streaming distribution and revenue.