Let media burn

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Via Pigs at the Trough:

Television broadcast content obligations will be suspended, spectrum fees waived and the Morrison Government will provide $50 million to regional journalism in an attempt to help Australia’s media companies through the COVID-19 pandemic.

…Relief from spectrum taxes will provide the radio and television broadcasters with $41 million worth of financial relief, while a $50 million Public Interest News Gathering (PING) program will be used to support journalism regional Australia. The package included $13.4 million in new funding and the remainder of the Regional and Small Publishers Innovation Package, which will now be re-purposed. Country Press Australia president, Bruce Ellen, who represents the interests of 140 regional and community publishers, had been campaigning for the package to be re-purposed.

Where operations have ceased completely, such as rural areas, support is in the public interest. 

Otherwise, let it burn. Its standards are disgraceful. Something better might appear in its place. 

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.