Federal bill could provide aid for local media
May 12, 2020 12:30 pm
Nick Reisman is reporting at State of Politics federal legislation to expand the Paycheck Protection Program could incorporate a provision that would include support to local news outlets that have been impacted by the coronavirus pandemic and economic meltdown. The measure, announced May 11, by Senate Minority Leader Chuck Schumer, would make newspapers and TV and radio stations that are part of larger parent companies eligible for the forgivable loans. The first version of the PPP loan did not apply to media organizations under large parent companies, an investor or part of a franchise not defined as a small business by the federal government. Newspapers, in particular, have felt the impact of the economic shutdown, as local advertisers have stopped advertising as they close down. “Local news outlets are the glue that keeps communities in Upstate New York informed and stitched together, and during these uncertain times, they are more vital than ever,” Schumer said. “Each day, Upstate New York’s local newspapers, television and radio stations give millions of New Yorkers up-to-date information on the pandemic; it’s local impact; and what they need to know to get through and begin to rebuild." Read the full story at nystateofpolitics [dot] com.