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The only way it'd work is if all other major news sites collude to do the same around the same time. Otherwise people will just go elsewhere, except of course for sheeple republicans (not calling all republicans sheeple but there's certainly some of them) that have to have the republican bias in their news and would pay to do so.
As much as Fox News might own the cable news airwaves, Yahoo and CNN afaik have been the sites of choice to go online - perhaps if Fox was as dominant online, I could see this move MAYBE working out well for them, but as is I kinda doubt it.
Case in point: If a site like RedTube or PornHub all of a sudden charged money exclusively (ergo no longer free tubes), you think anyone would stick around? Heck no, plenty of other free tubes to take the visitors. Even if conservative slanted news media is more scare than liberal, there would be many happy news corps waiting in the wings for people that don't want to pay.
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