There were also good reasons for not having cars before Henry Ford mass-produced them. Along with not having lightbulbs before Thomas Edison made them practical.
Although to be fair, I'm pretty sure a case could be made that it's just too difficult to have in-depth analysis every day.
Isn't there an issue of time sensitivity here? Suppose the paper is supposed to start showing up at 6 PM. You need a few hours to start printing papers, so let's say all articles have to be in by 2 PM. Then you need time to let people write articles and analysis and whatnot. So you wouldn't really be reporting on things that happened during the day - it would only really be events that happened in the morning in the US, late at night in Asia and towards the end of the day in Europe. Seems to me that there's not enough of a market for that..
Let's presume there's no distribution involved, though—that the "paper" is something you receive on your Kindle at 6PM sharp. The dynamics seem more forgiving then.
Newspapers needs more than a small niche of audience to succeed. Just because the author gets warm feelings reading evening news and comics, doesn't mean there are many people who feels the same.
Newspapers are a dying breed not because they lack in depth analysis or quality of writing or lack of entertainment. NP are dying breed simply because its inconvenient.
If you already have cable tv and internet, NP is another way of getting the same news but much later when news has been beaten to death by other news source. Its not fast enough, you don't get instant update or instant follow-up. You have to wait for next day to get follow up on an interesting news, by the time you get update on that news; its already old stuff.
Comics and puzzle is not good enough to sell newspaper.
Newspaper has a special place in my childhood memory. I grew up reading multiple newspapers a day, waited anxiously for comics or movie reviews. It made sense then. There is a time and place for everything, the time for daily newspaper is coming to an end.
MX is a little light on content is shifted a long way towards gossip rather than news. Still it's a good size for some light reading while catching transport home. I think they do have a fairly healthy business model going forward though.
I'm not saying this is impossible, but I believe that there are good reasons for there being no well-known examples of this model.