Foundersfreedom Blog

American virtue, free speech and renewal

Dem. Propaganda Machines- too big to fail! Dem Senator wants to bailout failing papers

Posted by foundersfreedom on March 27, 2009

We knew this was coming.  Without their complicit media the Left would fade into obscurity.  Love how they couch this in terms of preserving the smaller, community papers when we know it’s to prop up the traitorous New York Times, LA Times, Obama Chicago Tribune, the Washington Post.  Heck, they’ll probably classify the Huffington Post, CNN, MSNBC, and Daily Kos as newspapers while they’re at it. 

 

From the Dayton Business Journal

Sen. Benjamin Cardin introduced a bill March 24 that would let newspapers become non-profit organizations, a step the San Francisco Chronicle and other beleaguered daily newspapers nationwide are believed to be considering.

The Maryland Democrat’s Newspaper Revitalization Act would allow newspapers to operate as non-profits, if they choose, under 501(c)(3) status for educational purposes, similar to public broadcasting stations, he said in a March 24 statement. Under this proposed arrangement, newspapers would not be allowed to make political endorsements, but would be allowed to freely report on all issues, including political campaigns. Advertising and subscription revenue would be tax exempt and contributions to support coverage or operations could be tax deductible, the senator said.

However, he said the measure “is targeted to preserve local newspapers serving communities and not large newspaper conglomerates.” And because newspaper profits have been falling in recent years, no substantial loss of federal revenue is expected.

“We are losing our newspaper industry,” said Cardin. “The economy has caused an immediate problem, but the business model for newspapers, based on circulation and advertising revenue, is broken, and that is a real tragedy for communities across the nation and for our democracy.

Cardin added that although many news sources exist, the public relies largely on newspapers “for in-depth reporting that follows important issues, records events and exposes misdeeds.”

In fact, he said, most if not all sources of journalistic information — from radio to television to the Internet — gathers their news from newspaper reporters who cover the news on a daily basis and know their communities.

Leading business executives, including billionaire investment banker Warren Hellman, recently made an overture to Hearst Corp., which owns the San Francisco Chronicle, to help it become a nonprofit.

The proposal would be for a nonprofit corporation “to take over the Chronicle,” with Hearst continuing to provide some philanthropic support, Coblentz said. Details remain sketchy, and it’s unclear if the proposal is being seriously considered by Hearst.

But there’s no doubt that the Chronicle and a host of other metropolitan dailies are seeking new solutions. Citing Barclays Capital, the Maryland senator noted that newspaper advertising revenue plummeted 25 percent last year, and circulation at many print publications fell as well, as many readers migrated to the Internet, where most (but not all) news is free.

In the statement, Cardin noted that the Seattle Post-Intelligencer, Rocky Mountain News, Baltimore Examiner and San Francisco Chronicle, among others, have either ceased daily publication or announced they may have to stop publishing, and that other publications, including newspapers owned by the Tribune Co., owners of the Los Angeles Times and Baltimore Sun, have filed for bankruptcy “or have had to institute severe cutbacks that have impacted news coverage.”

Cardin’s bill came just a week after House Speaker Nancy Pelosi asked U.S. Attorney General Eric Holder to loosen antitrust restrictions to help newspapers like the Chronicle survive.

For many, the outlook is grim. The Post-Intelligencer, also owned by New York-based Hearst, shuttered its print publication March 17 and converted to online-only news coverage. The Rocky Mountain News closed last month. The San Diego Union-Tribune is being sold to a turnaround specialist, quite possibly because of its real estate assets. Papers such as the Seattle Times and the Philadelphia Inquirer are also reported to be in potential jeopardy.

Critics worry that the nonprofit model may not suit newspapers, and that such an approach could give government more opportunities to control the news. And Cardin admitted as much. “This may not be the optimal choice for some major newspapers or corporate media chains, but it should be an option for many newspapers that are struggling to stay afloat.”

That’s the plan. Does anyone really think the NY Times, et al, would stand on the principle of freedom of the press and go under when they can be coddled by the same people they carry. I see a total win for most of these filthy rags.

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One Response to “Dem. Propaganda Machines- too big to fail! Dem Senator wants to bailout failing papers”

  1. […] Dem. Propaganda Machines- too big to fail! Dem Senator wants to bailout failing papers […]

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