newspaper industry

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Sen. Ben Cardin: let newspapers operate as non-profits - 03/24/09

From this: Struggling newspapers should be allowed to operate as nonprofits similar to public broadcasting stations, Sen. Benjamin Cardin, D-Md., proposed Tuesday. Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns. Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible. He says it's mainly intended for local papers; an industry group supports the scheme.