From Bennett Roth at CQ Politics (which is itself up for sale):
*The nonprofit-newspaper legislation could boost efforts by a Bay Area investor to takeover the Chronicle. SF Appeal"We’re losing our local papers and it’s tragic. We need to look at a different model to save local newspapers,” said Sen. Benjamin L. Cardin , D-Md.
Cardin introduced a bill Tuesday that would permit newspapers to operate as nonprofits, or 501(c)3 corporations, much as public broadcasting now does.
Under this arrangement, advertising and subscription revenue would be tax-exempt, and contributions to support coverage or operations could be tax-deductible.
Such a structure would require at least one significant change for most newspapers: They would not be allowed to make political endorsements, a staple of many editorial pages.
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1 comment:
Sorry but it still wont help the reporters, they would add executive board members that would make huge dollars and still pay reporters peanuts.
Best thing that can happen in this industry is to let some of the horribly mismanaged papers die, and hopefully whatever replaces it will not be the corporate driven drivel we have on streets now.
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