Cardin: No newspaper bailout


Sen. Ben Cardin (D-MD) has been making the rounds to discuss the dire straits that newspapers find themselves in these days. He wants to help, but believes that a bailout would be a huge error, because it would deprive them of independence and objectivity. He is instead pushing a non-profit model, which he believes would lower income but would at the same time eliminate the need to pay taxes. He said there would be no loss to the US Treasury, since at the moment, few newspapers are making enough profit to owe any taxes.

RBR/TVBR observation: Newspapers are being hit from so many different angles it’s difficult to see how getting this one obligation off their backs will do much good. This goes quadruple for the newspapers that in addition to losing advertisers and readers are also collapsing under the weight of their debt burden.