Federal pandemic relief bill's payroll loans provide lifeline to local media outlets

This week’s COVID-19 relief bill brought a rare bit of good news for the news business. Under COVID-19 stimulus legislation passed by Congress Monday, many media outlets that missed out on so-called Paycheck Protection Program (PPP) loans earlier this year could now apply, while others that already got a PPP loan may be eligible for another. The provision, co-sponsored by Sen. Maria Cantwell, D-Wash., will provide a lifeline for local newspapers and TV and radio stations that have lost much of their advertising revenues during the pandemic. “Local news has been very, very hard hit and it’s jus…

Read More

HEDGE accordingly