New York’s $90 Million Boost A Lifeline for Struggling News Outlets

New York State Legislature Approves $90 Million Initiative to Support News Outlets

Financial Relief Plan Allows Publishers to Subsidize Journalists’ Salaries

According to The Wrap, the New York State Legislature has done something big to help struggling news outlets. They passed a new plan to give them money. It’s a $90 million commitment over three years with $30 million available each year. This plan lets news publishers use the money to pay part of a journalist’s salary up to $50,000 a year. But there’s a catch: to get the money publishers have to hire new reporters and keep the ones they already have.

Steven Waldman who leads the Rebuild Local News Coalition thinks this is a huge win for local news. He explained that each newsroom can get up to $320,000 and there are special amounts set aside for smaller and larger newsrooms as well as for hiring new staff.

READ ALSO: Maximizing Tax Refunds Top Stock Picks For Financial Growth After Tax Season

New York’s $90 Million Boost A Lifeline for Struggling News Outlets (PHOTO: JARS of JOY)

Experts and Lawmakers Applaud New York’s Initiative to Revitalize Local News

But only independent news organizations can get this money, not big companies that are traded publicly. State Senator Brad Hoylman also praised the plan saying local news is super important for communities and democracy. He thanked Senate Majority Leader Stewart-Cousins Governor Hochul and Assembly Member Carrie Woerner for supporting this new law to help local news.

READ ALSO: Kansas ROZ Program $15,000 Aid Boosts Rural Talent Retention