Journalism faces ‘apocalyptic event that wipes out local news’

Local news organizations across the United States need to be given serious government financial help, especially in the form of tax breaks, in order to stave off a crisis in the media sector and help save US democracy, a leading advocate for non-profit journalism has said.

Steven Waldman, the co-founder of Report for America, said a new initiative, called Rebuild Local News, wanted to revitalize hundreds of local news outlets across America decimated by changes in the industry, shifts in the sector’s advertising revenue structure, and more recently, the pandemic.

The Rebuild Local News coalition is pushing for a comprehensive list of tax credits to keep afloat local newsrooms, such as a tax refund for local news digital subscribers, payroll tax credits for hiring and retaining local reporters, and a tax credit for small businesses to advertise in local news outlets.

via wnd

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