It was mentioned recently that newspapers may be looking toward nonprofit status in an effort to survive. Now a bill just introduced in the US House aims to allow just that.From the Boston Globe:
US Senator Ben Cardin introduced a bill to allow newspapers to operate as nonprofit organizations, following four bankruptcies in the industry in as many months.
Under the proposed bill, advertising and circulation revenue could be claimed as tax exempt, Cardin, a Maryland Democrat, said yesterday in a statement. Newspapers would be barred from making political endorsements.
Los Angeles Times owner Tribune Co., the owner of the Philadelphia Inquirer, and two other publishers have sought bankruptcy protection since December. Hearst Corp. last week halted the print edition of the Seattle Post-Intelligencer after ad revenue plunged.
Wait and see...
E.C. :)
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2 comments:
This may be the way to clean up the news papers of political leanings. If they can no longer print political endorsements or take political contributions which is the same thing perhaps they will print the news more evenhandedly instead. Or do more investigative reporting!
Of course the advertising from certain groups could still determine what they printed. For example, the real estate advertising in The Rhino prohibited the hammers from any mention or endorsement of the Protest Petition tho I am sure they would have been very much for it.
I am of course addicted to my morning newspaper that I just can not start my day without it.
Even the N&R! BB
Giving up political endorsements would be a small price to pay for nonprofit status, although even that wouldn't guarantee financial survival.
One condition I'd include: Wherever possible, require each news organization to be a separate corporation with local "ownership." There's no business or journalistic sense in a chain of nonprofits, and the tax code would provide ample leverage for such a condition.
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