Tribble to challenge the newspaper bailout
March 24, 2009
Newspapers to get bailout - blogs want same deal. It appears that a bill in the Senate is aimed at bailing out Newspapers, online bloggers want the same deal for their sponsorship deals. Honestly at this rate we’ll be bailing out Sir Martin and Wpp Group plc.
Under the arrangement that is floating around the Senate, newspapers would still be free to report on all issues, including political campaigns. But they would be prohibited from making political endorsements. Advertising and subscription revenue would be tax exempt, and contributions to support news coverage or operations could be tax deductible.
So why the bailout for newspapers? Because bloggers and online news outlets such as Tribble, Media Bistro, Gawker, Politico, Sqlspace and others are attracting the lions share of news… respective of each industry.
So the question to be asked is, where is our bailout since they are handing it to the competitors and why is WPP group plc mentioned as the title? It’s because that advertising agency holding company places a substantial number of their clients budget with newspaper inserts and ads…. meaning that the reason the newspapers are failing is because of a mis-allocation of resources… see the newspapers should not be failing… they should have already failed years ago…
Stop propping up failed industries Washington…. the problem isn’t the lack of news.. the problem is the source of the news.. it’s coming online… Media Bistro for example has several dedicated reporters… so does Gawker… so does politico… so does Huffington Post…
This is what’s called a technological revolution that took place over a decade ago with Matt Drudge breaking the Monica / Clinton affair… So here’s our response… if you are going to bail out newspapers.. bloggers want a bailout as well… we want all our advertising revenue to be tax free… and we want to be treated as a newspaper…. complete with press pass.
In fact, if this bill goes forward… we’ll challenge it…. by claiming for all 50 cents this site earns via adsense that we are an online newspaper.
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