I don't believe that journalism is independent in the first place. There is almost always some type of bias going on in journalism. However, if journalism receives government subsidies they will become even less independent. They will be loyal to whatever group is giving them money to ensure that they receive more money in the future.
I do not believe that governments should bail out journalism. If an entity is dying because no one cares about it, there should not be a life line provided, it should be allowed to die. If journalism wants to begin to grow and thrive, journalists need to find new ways to get people excited and interested in the content they are providing. We need to stop hanging on to things simply because they've always been there.