Local Newspapers, TV Stations Seek Relief In Next Coronavirus Bill
Commerce teams representing native newspapers and broadcasters are looking for provisions within the subsequent coronavirus reduction laws that would supply a lifeline to struggling shops amid a drop in promoting income.
The teams — together with the Information Media Alliance, Nationwide Affiliation of Broadcasters, the Nationwide Newspaper Affiliation and America’s Newspapers — need stations and newspapers to be eligible for the $349 billion paycheck safety program, which supplies loans to small companies that may be transformed into grants if recipients preserve payrolls and different elements.
The issue that native stations and newspapers have is that they’re a part of a lot bigger media entities that will not fall beneath the definition of a small enterprise. However the media teams say that they want to see a provision within the subsequent reduction package deal that’s just like that was particularly given to inns and eating places in the latest reduction invoice. That particular provision makes massive chains eligible for the reduction program if they’ve fewer than 500 workers per bodily location of their enterprise.
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COPYRIGHT_BP: Published on https://bingepost.com/local-newspapers-tv-stations-seek-relief-in-next-coronavirus-bill/91363/ by Cecilia Jones on 2020-04-09T16:25:41.000Z
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The media teams additionally would really like the federal authorities to direct some $5 billion to $10 billion of their promoting campaigns to native media.
“These advertisements may carry data on medical assets, standing of testing websites, information from the Middle for Illness Management, psychological well being consciousness, entry to small enterprise loans and different vital governmental data,” the teams stated.
In a press release, David Chavern, the president and CEO of the Information Media Alliance, stated that native information has been a dependable supply of data that “is totally vital to communities, significantly throughout occasions just like the COVID-19 disaster.”
“Nevertheless, the quickly contracting advert market in response to the pandemic is dealing a pointy and rapid blow to native information publishing,” he stated. “If this continues, there received’t be native journalism in lots of communities.”
Already many native publishers have instituted layoffs, furloughs and pay cuts in the course of the pandemic, and projections are that promoting will fall by 25% to 50%. Native TV stations even have suffered the lack of income as social distancing pointers have pressured closures of advertisers like native automobile sellers and theaters.
Gordon Smith, president and CEO of the Nationwide Affiliation of Broadcasters, stated, “We urgently request that policymakers help our effort to protect advertising-supported native media shops which are so essential to the material of each day life.”
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