Tuesday, March 24, 2009

Newspaper Nonprofits

A new bill in the Senate:
With many U.S. newspapers struggling to survive, a Democratic senator on Tuesday introduced a bill to help them by allowing newspaper companies to restructure as nonprofits with a variety of tax breaks.
Glenn Reynolds comments:
The bill will make them nonpartisan — like NPR.
Is there something stopping them from becoming nonprofits right now? Reason magazine is put out by Reason Foundation, a nonprofit. The magazine existed before the foundation did.

Many newspapers have already taken an important first step - they have become unprofitable.

We may see reporters
wandering the streets -
not looking for stories -
just something to eat.

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