It's certainly still possible. There are dozens of feeds out there. Have a look in the better transponder listings (eg at satcodx). The signals are usually strong enough to pick up with a small dish of 80cm or so.
However, many newsfeeders are in the process of switching to MPEG 4:2:2 which is NOT compatible with domestic digital receivers. Others are simply encrypting.
Nevertheless there's a lot out there. Roger Bunny has a two-page spread on such niceties every month in What Satellite (UK satellite rag).
Newsfeeds are encrypted for the same reason anything else is - to prevent the material falling into the hands of people who have not paid for it... Actually, given the nature of such feeds (raw, uneditted, often showing presenters practising, stumbling through rehearsals, commenting personally in asides to the crew, etc.) it has more often surprised me that they were NOT encrypted.