2009 September 21 Monday
Obama Open To Liberal Newspaper Bailouts

If all the liberal newspapers go bankrupt how can they cheerlead for Obama? Really, how can the Left show its support for Obama when so many of their institutions for supporting the Democratic Party's goals are getting undermined by Craig's List and web news site? Fortunately President Obama has the wisdom to support measures to prop up the liberal media.

The president said he is "happy to look at" bills before Congress that would give struggling news organizations tax breaks if they were to restructure as nonprofit businesses.

"I haven't seen detailed proposals yet, but I'll be happy to look at them," Obama told the editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview.

The internet has weakened the hold of the old gatekeepers. So has talk radio. The old gatekeepers are none too happy about this development. While the raw news gathering function of newspapers is still very important and reduction of reporter staffs reduces needed raw information collection the weakening of their ability to influence which issues and positions are legitimate is a beneficial development.

Newspaper revenue really is cratering.

Ordinarily, such numbers would be seen as catastrophic, but these times are not ordinary. The drop in combined print and digital ad revenue last year, 16.6 percent, according to the Newspaper Association of America, was the worst since the Depression. But it looks rosy next to 2009, when revenue fell 28.3 percent in the first quarter and 29 percent in the second.

I like the New York Times in spite of my disagreeing with their editorial position. I hope that newspaper survives. But the better parts of the blogosphere bring some needed balance and bring up stories and information the mainstream liberal media would just as soon ignore.

Share |      By Randall Parker at 2009 September 21 10:59 PM  Elites As Enemies

miles said at September 22, 2009 4:13 AM:

Im 100% against any newspaper or Television news bailout. Fox News is doing just fine. The leftists have offended white readers to the point that those readers are no longer buying their syndicate newspapers (Gannett primarily), so what do they do? The carp about being restructured as non-profits so those lefty journalism majors can keep on pouring out big-government propaganda on the taxpayers dime.

If you want the truth Randall, I blame conservative businessmen more than anything. They should have seen by now the desperate need for non-biased news, but only a few (Taki Theodoracouplous, Rupert Murdoch, David Regnery, Richard Scaiffe, Clear Channel, EIB, and a few others) have been willing to do the martyr's task of starting up conservative news organizations. We need a "conservative" daily newspaper in the major city of every state in this nation. We also need for some conservative millionaires to pool their money and to buy out one of the big-3 networks or start another network to rival them (Fox can do it all alone, and its sole position makes it easier for critics to dismiss it as an outlier). Wealthy red-state millionaires complain to high heaven about the media, but few have stepped up to the plate to do anything about it. I expect Borat Hussein O'Chicago to attempt to help the press that aggrandizes him constantly if its politically expedient to do so while the T-bill buyers are still buying our debt.

Black Death said at September 22, 2009 4:40 AM:

The small earthquake reported recently in the Baltimore area was H. L. Mencken rolling over in his grave.

mrm27 said at September 22, 2009 4:29 PM:

Besides being horrible in consideration of a 'free press', this is another union centered bailout. Union demands, as well as poor quality of product, have hurt this industry from being flexible to meet the competition. After seeing what the WHite House has done with the NEA, who could belieev in a free press after a bailout with the givernment holding the purse strings? Couldn't papers and firms not receiving a bailout then file a lawsuit on grounds of violation of the free press amendment? It is bad enough the bailouts have made a few banks and 2 insurance firms subsidized and given an unfair competitive advantage over their competition.

Rory Bellows said at September 23, 2009 7:40 PM:

I don't think it would be a bailout for newspaper companies to transfer loss-making newspapers to nonprofit foundations. Say NYT Inc. splits off the New York Times newspaper to the Times Foundation and keeps the New York Times building and whatever profitable divisions NYT Inc. has (sports cable in New ENgland for a start). The Times Foundation rather than NYT Inc has to somehow pay for the losses of the New York Times and pay rent to NYT Inc or (more likely) move into cheaper quarters.

I don't think the government loses that much by turning unprofitable corporations into nonprofit foundations.

Post a comment
Name (not anon or anonymous):
Email Address:
Remember info?

Web parapundit.com
Go Read More Posts On ParaPundit
Site Traffic Info
The contents of this site are copyright