WASHINGTON (1) – An almost $500 billion spending deal reached by U.S. Senate leaders on Tuesday does not develop payroll assistance to struggling local newspapers and broadcast stations, whose promoting revenues have plummeted in the course of the coronavirus pandemic.
Democratic Senators Maria Cantwell and Amy Klobuchar and Republicans John Kennedy and John Boozman on Sunday had referred to as on Senate leaders to revise the foundations to make 1000’s of local newspapers, TV and radio stations eligible for assistance beneath the Paycheck Safety Program.
Many local outlets are ineligible as a result of they’re owned by dad or mum firms too giant to qualify.
The 4 senators stated local newspapers had misplaced as a lot as 50% of promoting income, whereas the Nationwide Affiliation of Broadcasters (NAB) says some local broadcasters have reported as a lot as a 90% loss in promoting revenues.
A separate letter signed by greater than 240 of the 435-member U.S. Home of Representatives on Monday referred to as on President Donald Trump to take steps to help local media, together with incentivizing some stimulus funds offered to companies “for promoting on local media.”
Tens of 1000’s of local media employees are being compelled to take unpaid furloughs or are taking pay cuts, whereas different outlets are shrinking workers and lowering the frequency of printing. Some smaller newspapers in California, Vermont and South Dakota are closing.
In contrast to many different companies, news organizations had been already hurting earlier than the pandemic. Employment at U.S. newsrooms fell 25% from 2008 to 2018, the Pew Analysis Heart reported, a lack of 28,000 jobs, whereas 1,800 U.S. newspapers have closed since 2004.
Earlier this month, 4 teams representing broadcasters and newspapers, together with the NAB, requested lawmakers to again up to $10 billion in authorities promoting and to rewrite Paycheck Safety Program guidelines.
Local news outlets nonetheless maintain out important hope they’ll added to one other stimulus invoice that Congress is predicted to take up in Could.
Reporting by David Shepardson; Modifying by Leslie Adler