“I can't afford to pay for all the journals I'd like to read that are increasingly paywalled, but I still like to browse their headlines for important stuff I can find elsewhere.” That there is exactly the problem. It might be only headlines but there is a written story under them which you won’t read as you now search on the headline topic to find background info for free.
So, what they are only headlines, headlines that have given you the important news stories of the day. Before the internet when it was print you could see the front-page headlines, but there would only be 2 or 3 actual stories over all the main national papers the rest of the stories with headlines would be inside the papers which you don’t see without buying the paper. Now you could pick up the paper in the shop browse through it then another but how long would it be before you hear those famous words “this isn’t a bloody library either buy a paper or piss off”.
But back to the present what is happening is Google are setting themselves up as a news distributor with Google News. On Google News you can see the top stories for a category world, country, business etc. But they are not creating the content they are distributing the headlines for the press. Now they are links to those stories but they maybe behind a paywall. If you are only after the basic events you have it and if you want more info then you can now search for free info on those stories.
Now this is where the search algorithm comes in. Google is trying to become the gateway to the news and some news companies will sign up with Google. So now even if you don’t use Google News what’s to stop them from favouring their partners through what for most is their default search engine? Google now a news distributor also controls how you search for the news.
Now I am not saying that we should bend over backwards for the press they need to adapt with a business model for the digital age. But that may be difficult with Google distributing the news from various agencies and also controlling which agencies news is found with their control of search.