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Newspaper Bailout Bill: Restructured as Nonprofits?
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by Scott Wu | September 21, 2009 at 12:19 pm
51 views | 10 Recommendations | 1 comment
President Obama said he is "happy to look at" bills that would give newspaper organizations tax breaks if they were to restructure as nonprofits. In an interview with editors from the Pittsburgh Post-Gazette and The Blade, President Obama talked about his concerns about the future of journalism and newspaper.
The "Newspaper Revitalization Act" has been introduced by Senator Ben Cardin (D-MD.). It would give newspaper organizations tax deals if they were to restructure to 501(c)(3) corporations. So far the bill has attracted one cosponsor, Sen. Barbara Milkulski (D).
As a "big newspaper junkie," President Obama is concerned the direction where journalism is heading facing the ever more popular blogosphere:
"I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding," he said.
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Most RecentMost Recommended Comments (1)
at 18:00 on September 21st, 2009
I was just reading today about journalists losing their jobs at three times the rate of average workers. It certainly is a dying industry.