Well, no… that’s making money. If it’s no longer profitable to preserve the media that they own, they’ll sell it off and do something else.
Public preservation is the way to go. If private for or non-profit want to get involved, that’s great, too, but if you expect this stuff to be around, we can’t depend on them. It’s true that states can also go away, but they tend to have a longer shelf life than corporations/non-profits, and then you can also partner with international organizations (UNESCO) as an added back up.