A memo from Canadian Heritage said the media bailout will not save the news industry, according to Blacklock’s Reporter. .“At least one-third of Canadian journalism jobs have disappeared since 2010,” said Canadian Heritage in a memo. .“Between 2008 and Feb. 1, 2023, a total of 470 local news operations closed in 335 communities across Canada.”.The $595 million media bailout approved by the Canadian government in 2019 is up for renewal on Mar. 31, 2024..Between 2008 and 2023, Canadian Heritage said 210 new news outlets launched. .“The government supports journalism in several ways, but supports alone cannot redress the structural decline of the current business model,” it said. .The Canadian government amended the Income Tax Act to pay annual rebates of up to $13,750 per employee in approved newsrooms. News Media Canada (NMC) has asked rebates double next year to a maximum of $29,750 per year. .“The financial situation for most news publishers is extremely challenging,” said NMC. .“It will remain so for many in the short to medium term.”.Publishers sought media subsidies on a promise federal aid would not be extended. .Former NMC chair Bob Cox testified at the House of Commons Finance Committee in 2019 there should be a deadline. Cox said deadlines focus people and get them moving to where they are not now. .“I think it’s important,” said Cox. .“I see this as a transitional program and temporary help.”.He said the media bailout is “envisioned to be for five years, and I felt that was an appropriate period of time for the transition because of course there will be news outlets, newspapers, that fail the transition, and you can’t give them forever.”.At the time, he said news outlets will have to save themselves. .Canadian Heritage reported in April news outlets continue to struggle with financial issues, even after the media bailout. .READ MORE: Trudeau gov’t $595 million 'media bailout' a failure.It justified it four years ago to address the industry's ongoing financial sustainability problems..“We have seen a significant decline in journalism,” said Canadian Heritage associate assistant deputy minister Thomas Ripley..The Western Standard, although eligible, does not accept any government grants.
A memo from Canadian Heritage said the media bailout will not save the news industry, according to Blacklock’s Reporter. .“At least one-third of Canadian journalism jobs have disappeared since 2010,” said Canadian Heritage in a memo. .“Between 2008 and Feb. 1, 2023, a total of 470 local news operations closed in 335 communities across Canada.”.The $595 million media bailout approved by the Canadian government in 2019 is up for renewal on Mar. 31, 2024..Between 2008 and 2023, Canadian Heritage said 210 new news outlets launched. .“The government supports journalism in several ways, but supports alone cannot redress the structural decline of the current business model,” it said. .The Canadian government amended the Income Tax Act to pay annual rebates of up to $13,750 per employee in approved newsrooms. News Media Canada (NMC) has asked rebates double next year to a maximum of $29,750 per year. .“The financial situation for most news publishers is extremely challenging,” said NMC. .“It will remain so for many in the short to medium term.”.Publishers sought media subsidies on a promise federal aid would not be extended. .Former NMC chair Bob Cox testified at the House of Commons Finance Committee in 2019 there should be a deadline. Cox said deadlines focus people and get them moving to where they are not now. .“I think it’s important,” said Cox. .“I see this as a transitional program and temporary help.”.He said the media bailout is “envisioned to be for five years, and I felt that was an appropriate period of time for the transition because of course there will be news outlets, newspapers, that fail the transition, and you can’t give them forever.”.At the time, he said news outlets will have to save themselves. .Canadian Heritage reported in April news outlets continue to struggle with financial issues, even after the media bailout. .READ MORE: Trudeau gov’t $595 million 'media bailout' a failure.It justified it four years ago to address the industry's ongoing financial sustainability problems..“We have seen a significant decline in journalism,” said Canadian Heritage associate assistant deputy minister Thomas Ripley..The Western Standard, although eligible, does not accept any government grants.
