State owned news media sounds like a bad idea from communistic countries, but nevertheless, plenty of European countries have just that, and it’s noteworthy how it’s much less biased than the commercial outlets. The people pay the piper.
It actually works in democratic countries where the government is representative of the people, so that any single party can’t push their agenda to the media by laws. On the contrary it happens more often that the media is told to keep a straight line if they go too far in any direction.
It’s no wonder it doesn’t work in dictatorships, and I don’t think it would work in two party politics, but in European countries the state media is very likely the less biased one.