An intriguing proposal from U. S. Sen. Ben Cardin of Maryland. This would not in any way help the giant media conglomorates, but it appears that this might help local newspapers survive and, maybe eventually, thrive.
Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns.
Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible.
Cardin said in a statement that the bill is aimed at preserving local newspapers, not large newspaper conglomerates.
“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.”
On the surface, this appears to make sense to the Beast Who Slumbers. Of course, maybe if Congress had withstood Newt Gingrich’s push to enable newspaper owners to own TV stations and vice versa, which paved the way for Murdoch, among others, this wouldn’t have been necessary.
Fortunately, this blog has some serious students of newspapers who comment here. So, to anon, Geezer, and everybody else, whaddayathink?
And, decoupled from Gannett (if that’s possible), could this be a model that could lead to the renaissance of the News-Journal?
THREAD UPDATE: FROM WDEL’S ALLAN LOUDELL:
“I’ll be interviewing Senator Cardin on-the-air about this tomorrow (Wednesday) at about 12:15 p.m. during the “WDEL Delaware News at Noon”.
Thanks, Allan. ‘Bulo will be listening.