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MAGAZINES

U.S. senator proposes non-profit status for newspapers

LARRY MARGASAK
Associated Press
March 24, 2009 at 1:43 PM EDT

WASHINGTON ā€” Struggling newspapers should be allowed to operate as non-profits similar to public broadcasting stations, Sen. Benjamin Cardin of Maryland proposed Tuesday.

Mr. Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns.

Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible. (continue at theglobeandmail.com)

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