While journalism has been inadvertently used to promote or negate political agenda, I do not believe the field itself should get a government bailout. Why this specific field? There have been numerous industries that were equally, if not more, beneficial to American society, but they received no bailout in their time of need.
No, the government should not bail out journalism, because the public is not dependent on major media organizations for their news. A person can learn just as much about current events form a social media feed as they do from reading a newspaper. Major media should be allowed to fail if it cannot find ways to keep itself profitable.