Posted on 01/19/2022 4:54:37 AM PST by KeyLargo
The parent company of public radio station WBEZ 91.5-FM is moving forward on plans to acquire the Chicago Sun-Times -- a merger designed to assure survival of the money-losing newspaper that will create one of the nation's largest nonprofit local news organizations.
The board of Chicago Public Media voted Tuesday to approve the deal, which was first disclosed here in September. The merger is expected to be finalized by Jan. 31.
(Excerpt) Read more at dailyherald.com ...
So Biden now is moving forward with federal bailouts of failing newspapers.
And GOP will do nothing as they do with NPR continuing to be financed with taxpayers dollars, which allows our enemy to be funded by us.
WBEZ is a particularly left of left radio station. Can’t listen to it at all now. Its all Elite smarmy crap with Jazz instead of the normal classical music. They run revenue drives every second week. And of course our tax payers fund much of it. It is very well financed. Public radio are many of the wealthiest stations in the US because of their funding. And now they have a news paper which tends to have a very city oriented sports and democrat readership. for those who ride the bus or train.
Chicago Public Media believes that diversity considerations extend beyond race and gender. The spectrum of diversity also includes disability, religious belief, age, culture, sexual orientation, gender identity, physicality, education and socio- economic status
https://wbez-assets.s3.amazonaws.com/pdf/CPM%20Diversity%20Statement.pdf
Yup the Republicants didn’t get rid of public media when they had a chance. The same with “planned “ parenthood.
I can’t stomach WBEZ. And I haven’t read the Sun Times in decades. Just more Obama-era propaganda outlets.
“...the money-losing newspaper...”
Nearly all newspaper companies have become money losers, especially since they decided to morph into propaganda organs of the democrat party.
The average age of a newspaper subscriber is 62.
WBEZ is promoted by Far Left Lunatic Robert Feder - If it is anti-cop, pro left, Feder will give it weekly press coverage. He is still trying to keep the Reader going.
True. I think this might change with the new, younger crop of fighters working their way up. Marjorie Taylor Green and others should take this on after the midterms.
It’s going to take some work hunting RINO’s and mounting their heads for trophies but I believe we are on the way to ushering in a new conservative awakening in America. We just need to work hard and provide the RINO Hunters lots of support. We didn’t get here overnight and we can’t flip a switch to make it go away. It’s going to be a tough battle and it will be continuous, like a Whack a Mole game, but we are going to prevail.
If “public” radio can purchase a newspaper, they don’t need taxpayer funding.
Wednesday, September 29, 2021
Democrats’ $3.5 Trillion Spending Spree Includes $1.3 Billion Media Bailout
Several weeks ago, I wrote an article asking why the media in general, and Politico in particular, refuse to cover the irregularities in Joe Biden’s taxes. Turns out they have a lot of reasons not to do so. Approximately 1,269,000,000 reasons, in fact.
A relatively unheralded program in the $3.5 trillion Democrat spending spree would provide well more than $1 billion in bailout funds to media organizations. You read that right: With our nation more than $28 trillion in debt, Democrats want to raise taxes to spend more money on their political allies in corporate media.
It’s enough to prompt the inevitable chicken-and-egg question: Did Democrats propose this bailout because corporate media bury scandals like Joe Biden’s taxes and Hunter Biden’s e-mails, or did the media bury those scandals in the hopes of receiving a bailout?
Welfare for Writers?
Buried at the back of the 2,465-page spending behemoth is the program by which Democrats in Congress want the federal government to subsidize journalism. Beginning on page 2,326, Section 138517 of the bill provides a payroll tax credit for “compensation of local news journalists.”
The program would provide a credit of up to $50,000 annually for each “local news journalist” on staff, subsidizing half of wages in the first year and 30 percent for four years thereafter. The bill defines “local news journalist” as someone who works “at least 100 hours” each quarter, “during which time such individual regularly gathers, collects, photographs, records, writes, or reports news or information that concerns local events or other matters of local public interest.”
That language implies the credits will go primarily towards small-town reporters. Requiring eligible journalists to work only 100 hours per quarter—less than 10 hours per week—suggests lawmakers want to support publications with part-time or freelance correspondents.
But it also raises the obvious question about why federal taxpayers need to fund what amounts to someone’s side hustle. I write for The Federalist part-time, and likely spend at least 100 hours per quarter doing so, but I don’t expect the feds to subsidize my endeavors in the slightest. Nor, can I safely say, would The Federalist’s publishers want to go on the federal dole to have taxpayers fund their writers’ compensation. Read at:
Some background, a Chicago financial group bought the Chicago ‘Slum Times’ at a bankruptcy fire sale in 2009 during the Obama Regiem.
BANKRUPTCY NEWS
OCTOBER 8, 200911:24 AMUPDATED 12 YEARS AGO
UPDATE 1-Bankruptcy judge approves Chicago Sun-Times sale
By Reuters Staff
2 MIN READ
WILMINGTON, Del./NEW YORK, Oct 8 (Reuters) - A U.S. bankruptcy court judge approved the sale of the Sun-Times Media Group SUTMQ.PK to local investors on Thursday, giving its flagship Chicago Sun-Times newspaper a chance for survival.
James Tyree, chief executive of Mesirow Financial, received court approval to buy the company for $25 million. Tyree agreed to pay $5 million in cash and assume about $22 million in liabilities for the company’s assets.
The operations include the Sun-Times, with its 1.3 million daily readers, and 58 other newspapers and websites in the Chicago area.
Tyree last month had threatened to walk away from the deal without union concessions. A key group of union members agreed to contract changes on Wednesday, which would allow the concessions to go through.
Newsroom union workers at the Post-Tribune of Northwest Indiana plan to vote on the concessions, including big pay cuts, on Friday, the Sun-Times reported on its website.
The Sun-Times Media Group used to be called Hollinger International Inc and was run by Canadian former media baron Conrad Black, who is now serving jail time for diverting Hollinger funds for his personal benefit.
The Sun-Times newspaper filed for bankruptcy earlier this year, joining Chicago’s other major newspaper publisher, Tribune Co TRBCQ.PK, in operating under court protection.
U.S. newspaper publishers have been hurt by severe advertising revenue declines as more people abandon print newspapers for the web and advertisers follow. The recession has accentuated those declines.
The case is In re: Sun-Times Media Group Inc, U.S. Bankruptcy Court, District of Delaware, No. 09-11092. (Reporting by Tom Hals in Wilmington and Robert MacMillan in New York)
https://www.reuters.com/article/suntimes-idUSN0852689920091008
And Illinois Governor Pritzger put millions of dollars into the deal in order to ensure that Chicago news media does not produce any negative stories about him and he stays Governor of Illinois for life.
Chicago Public Media Acquires Sun-Times Newspaper
“The John D. and Catherine T. MacArthur Foundation and the Pritzker Traubert Foundation are investing in the deal.”
The Sun-Times has a left-center political bias, according to mediabiasfactcheck.com.
https://www.newsmax.com/newsfront/chicago-radio-npr-newspaper/2022/01/19/id/1053068/
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