Different countries have different histories. However, in almost all countries, the news started out as a profit making venture. We’re talking about in the 1600s through the 1800s.
The only time I can think of that your father may have been talking about starts in 1915 with the communist revolution in Russia. After that, until the end of the Soviet Union, news outlets in the Soviet Bloc, and indeed, in China today, were owned by the state, and didn’t have to make a profit. They also parroted the official state line on everything.
In the US, the Corporation for Public Broadcasting was set up sometime in the sixties or seventies, I think. Both public television and public radio set up news divisions, and these did not have to make a profit.
Except that even a non-profit is a for-profit in the sense they have to take in more money than they spend. It’s just that they are supposed to plow the money back into the business instead of giving it to shareholders. So I would argue there really never were any non-profit news outlets in the US.
The way public media works in the US is that instead of selling advertising as their main form of revenue (and they do sell some advertising, even though they weren’t supposed to), they beg for money from listeners and viewers.
Supposedly, with a combination of funding from listeners, corporate sponsors and government, they are more independent and can report in any way they want. In reality, they are more conservative than most other media outlets—rivaling even Fox news.
They did a show on this recently on “On The Media.” Ironic, no? They are accused of having a liberal bias by conservatives but when academics measure them in an unbiased way, they find that public radio has a conservative bias. Show you what happens when you are the squeaky wheel.
Ok. That’s just a short overview of public media in the US. The question you asked could be answered with several books, and I’m not writing a book because you probably won’t even read this much. But we could talk about the for-profit media—TV news, radio, magazines, and newspapers. Each has its own colorful history.