Senate Mulls Helping Newspaper Industry
WASHINGTON, DC—A Maryland senator proposed a bill that would allow newspapers to operate as nonprofit organizations, an effort to throw a lifeline to the struggling industry. The bill proposed by Sen. Ben Cardin (D-MD) would essentially preserve the integrity of news gathering and reporting, although nonprofit papers would no longer be able to make political endorsements. Ad and subscription revenue would be tax exempt, while public contributions could be tax deductible.
It was a difficult week for printed publications. The Newspaper Association of America is no longer printing copies of its Presstime magazine. Cox Enterprises has decided to take its AutoTrader publications—long a staple of the supermarket and convenience store shopper racks—online only, save AutoTrader Latino and AutoTrader Classics. And news satirist The Onion is ditching its print editions in San Francisco and Los Angeles.