Gibbs: No Bailout For Newspaper Industry

Monday, 04 May 2009 08:33 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The White House on Monday expressed "concern" and "sadness" over the state of the ailing US newspaper industry, but made clear that a government bailout was not in the cards.

"I don't know what, in all honesty, government can do about it," White House spokesman Robert Gibbs told reporters. "That might be a bit of a tricky area to get into given the differing roles."

Gibbs was responding to a reporter who asked what the White House thought about the recent closure of several US newspapers and a threat to shut down the venerable Boston Globe.

"Obviously (President Barack Obama) believes there has to be a strong free press," the spokesman said. "I think there's a certain concern and a certain sadness when you see cities losing their newspapers or regions of the country losing their newspapers."

US newspapers have been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online.

A US senator recently introduced legislation aimed at helping US newspapers by giving them tax breaks as non-profit organizations, an arrangement similar to that enjoyed by public broadcasting outlets, which survive on tax-deductible contributions from listeners.

Advertising and subscription revenue would be tax exempt and contributions to support coverage or operations would be tax deductible.

Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium

-

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House GOP Leaders Solidify Positions in Drama-Free Spell

Thursday, 18 Sep 2014 09:33 AM

The House GOP leaders have strengthened their positions and are no longer constantly looking over their shoulders to see . . .

Top Democrats Stepping Away From Wasserman Schultz

Thursday, 18 Sep 2014 09:13 AM

Democratic National Committee Chairwoman Debbie Wasserman Schultz is losing support from the White House, congressional  . . .

McConnell Ad Puts Alison Grimes in Crosshairs

Thursday, 18 Sep 2014 08:37 AM

Senate Minority Leader Mitch McConnell is firing back at his Democratic challenger, Kentucky Secretary of State Alison L . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved