My father has a newspaper (early memory problems) which he goes to the end of his road every day to buy. He does read it, though I think over time he will lose this. It allows us to talk about some (less worrying or contentious) stories, and even more importantly, it is something he has always done, enjoys, and it gets him out of the house as part of a routine.
I think even if he was unable to read it all, I would still get it as it is an important thing for him and he would be devastated to realise that he could no longer understand it. I found newspapers in care homes took on a different purpose (ownership, something to hide behind or do) beyond reading the news. I concur with the idea of simplified news. I discovered that my Mum (mixed dementia) retained the ability to read simple large text, long after I thought she had lost the ability. We read children's books, but I can see that this would not suit all, and she wasn;t phased by the idea that they might be for children, she just enjoyed them.