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Senator Proposes Nonprofit Status For Newspapers

Posted by kdawson on from the not-making-any-anyway dept.

The AP is reporting that a senator has introduced legislation that would allow struggling newspapers to operate as nonprofits, similar to the way public broadcasting works. "[Sen. Benjamin] Cardin [D-Md.] 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. ... The head of the newspaper industry's trade group called the bill a positive step."

3 of 426 comments (clear)

  1. Re:What a good idea by Anonymous Coward · · Score: 1, Funny

    You can go back to not posting.

    Thanks,
    Anonymous Coward.

  2. Like Public Broadcasting? by chill · · Score: 2, Funny

    You mean we can look forward to having an entire week's worth of issues, once a quarter, be full of nothing but spots begging for donations? Yeah, that'll make subscription rates soar!

    --
    Learning HOW to think is more important than learning WHAT to think.
  3. Re:What a good idea by Fulcrum+of+Evil · · Score: 4, Funny

    The thing is, if you give up trying to be unbiased, you get Fox News.

    Or the Economist. Bias is OK as long as you acknowledge it - does Fox still claim to be fair and balanced?

    --
    "We returned the General to El Salvador, or maybe Guatemala, it's difficult to tell from 10,000 feet"