What matters to me is the validity of the content being produced, regardless of who produces it. If foreign-owned outlets do a better job than locally-owned outlets at providing factual, complete, and as-objective-as-possible reporting, that's fine with me.
When I consider events or situations I've had direct knowledge of, or where I've had access to direct witness accounts and raw footage that I trust, some of the worst reporting in my opinion has been from CBC News. With CBC being a Crown corporation, CBC News could perhaps be considered the most inherently "Canadian-owned" of the mainstream news outlets.
On the other hand, for such situations, I've generally found reporting from Postmedia's various outlets to be among the most accurate, complete, and objective of that from the mainstream outlets, even if it may be considered foreign-owned.