The impact of the transformation of news online and the accompanying loss of revenue is so large that Congress needs to provide the Federal Trade Commission (FTC) new authority to protect the local news industry.
That’s the argument presented Tuesday (10/27) by Senate Commerce Committee Ranking Member Maria Cantwell (D-Wash.).
RBR+TVBR OBSERVATION: Yes, Facebook and Twitter and YouTube have fueled the local digital media dollar vacuum taking ad revenue away from local radio, TV and newspapers. But, Cantwell’s 67-page comprehensive report is deeply flawed with respect to the impact on newspapers. The newspaper industry’s demise in the America Online Installation Disc Coaster Era of the internet. (Full text below).