(Boston Mayor) Menino offers loan to keep Banner (newspaper) afloat (Dinosaur Media DeathWatch™)

Boston Globe ^ | July 17, 2009 | Meghan E. Irons and Milton J. Valencia

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The City of Boston will offer to loan the Bay State Banner up to $200,000 to keep the cash-strapped weekly newspaper from shutting down permanently, Mayor Thomas M. Menino said last night.

The mayor told the Globe that the loan will come from the Boston Local Development Corp. fund, a private nonprofit administered by the Boston Redevelopment Authority that provides financial infusions to struggling small businesses.

The mayor said the loan is not an attempt to garner favor from the Banner, which focuses on the black community and has often covered Menino critically.

“This is about me helping a business that is very important to the minority community,’’ Menino said. “I will step up any time and help any business in this city. I’m trying to help a business survive. Tell me if that’s wrong.’’

The free weekly published what it said was its final edition July 9, and had planned to shutter by the end of the month because of a revenue slump caused by the recession.

Mel Miller, the Banner’s publisher, who had hoped for investors to step up and save the paper, did not respond to repeated calls yesterday seeking comment. Howard Manly, the paper’s executive editor, would not comment on the loan, but did express gratitude for the community support.

“The level of support for the Banner has been overwhelming,’’ he said. “From the highest levels of the city of Boston to the blue-collar workers, the support for the Banner had been extremely heartfelt.’’

Larry Mayes, a senior adviser to Menino, said that the mayor was approached by “representatives of the Banner’s interests’’ yesterday and that he met with them in his office and discussed ways the paper can get back on its feet.

snip

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State-Run Media indeed...

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ping

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http://recoveringjournalist.typepad.com/recovering_journalist/2009/07/you-cant-charge-for-something-that-doesnt-provide-value.html
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http://www.observer.com/2009/media/google-newspapers-think-were-stealing-you-fine-dont-show-searches
Google to Newspapers: Think We’re Stealing From You? Fine, Don’t Show Up in Searches!

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[ClearCase_guy]

MA is the bellweather for the US. Mandatory health insurance in MA paves the way for it at the federal level. Bailouts of media outlets in Boston paves the way for the NYT to reach out a begging hand to Obama.

With the Fairness Doctrine to shut down successful conservative outlets, and bailouts to prop up failing Leftist outlets, propaganda will will be the only game in town.

[Bloody Sam Roberts]

The mayor said the loan is not an attempt to garner favor from the Banner, which focuses on the black community...

Uh huh. Right. No pandering going on here.
Why didn't he offer the Globe a loan?

[Spok]

Guaranteeing we’ll never see the truth in print.

[GOPJ]

“This is about me helping a business that is very important to the minority community,’’ Menino said.

If it was "very important" to the people in the community, they would buy the paper. And the paper would it would be able to support itself.

In short - if no one wants it, it's not serving a useful purpose...

[abb]

http://editor.blogspot.com/
How to compete with free

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[Leftism is Mentally Deranged]

And in return the Globe will continue its favorable treatment of anything that the corrupt democrat administration does.

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[abb]

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http://thephoenix.com/BLOGS/dontquoteme/archive/2009/07/17/globe-management-pushes-back.aspx
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http://business.theatlantic.com/2009/07/information_may_want_to_be_free_but_not_journalism.php
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[Chode]

Boston Local Development Corp.

throwing money down a RATHOLE gives a whole new meaning to the word development...

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http://www.poynter.org/column.asp?id=131&aid=166916
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