The money you pay into a mortgage doesn’t evaporate. Only a portion of your mortgage is considered a cost (interest and fees and the like) the rest goes into your home equity.
If a tenants rent payment doesn’t cover all of your mortgage, taxes and maintenance it does not mean your not making a profit.
This law is more than just paying news corporations isn’t it? I remember reading about how there were some stipulations in there to stop companies from Cherry picking the articles that benefit them the most, while also hiding anything critical of themselves.