Yes, governments should bail out journalism when needed as journalism is a public good warranting subsidization. The purpose of journalism is to act as a watchdog for those in power, so this proves that journalism has a value to the public at large. Thus, the government should treat journalism as a service warranting such.
No, governments should not bail out journalism, because there is till plenty of journalism today. Journalism may have changed forms, in that journalism is now on the internet, and it is now openly biased in a way it was not before. However, there is plenty of journalism today, and the consumer is not lacking for information. Thus, journalism does not need a bailout.