Not so long ago, it's a million pounds that the London Sun had to pay for having libeled Elton John. Secondly, media managers are immediately accountable to share-holders. So they need to keep in mind that quality pays. On a more lofty level, publishers and broadcasting bosses have a special responsibility towards their fellow human beings. Steering news media differs from manufacturing plastic flowers or dish-washers.
News media form a major nervous system of society.
No one lives by money alone, especially if one possesses plenty of it. Prestige and influence count.