Newspapers Could Get Nonprofit Status
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Los Angeles Times owner Tribune Co., the owner of the Philadelphia Inquirer, and two other publishers have sought bankruptcy protection since December. Hearst Corp. last week halted the print edition of the Seattle Post-Intelligencer after ad revenue plunged.
"The economy has caused an immediate problem, but the business model for newspapers, based on circulation and advertising revenue, is broken," Cardin said in the statement.
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