Tech Giants May Fund Local News Under New California Bill

The California Senate has passed a bill that could allocate $500 million annually to fund journalism jobs across the state. 

Senate Bill 1327, introduced by Senator Steve Glazer, proposes to impose a data-mining fee on major tech companies to finance this initiative. The bill secured the necessary two-thirds majority to advance in the legislature.

This development follows closely on the heels of another pro-journalism measure, the California Journalism Preservation Act, which cleared the Senate Judiciary Committee with a 9-2 vote. Both bills have garnered support from prominent journalism unions, including the NewsGuild-CWA and its local chapters.

The California Journalism Preservation Act (AB 886), sponsored by Assembly Member Buffy Wicks, aims to establish a journalism usage fee targeting digital advertising giants like Google (Nasdaq: GOOG) and Meta (Nasdaq: META). The bill stipulates that 70% of the collected funds must be reinvested in preserving journalism jobs within California.

Journalism advocates argue that these measures are crucial for maintaining a robust local news ecosystem. NewsGuild-CWA President Jon Schleuss emphasized the critical role journalists play in communities and democracy, noting the significant loss of journalism jobs over the past decade.

“It’s a strong indicator to me that Californians and the officials elected to represent them understand the critical role that journalists play in our communities and our democracy. We must protect local journalism and the brave working journalists who bring us the news,” he said.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Agnico Q1 Earnings Results Overshadowed By A Sinking Gold Price

Why More People Are Starting to Feel Broke | Darrell Thomas – VRIC Media

Newmont Q1 Earnings: A Billion In Free Cash Flow… A Month!

Recommended

Altamira Gold Extends Maria Bonita Porphyry System Westward With 70.6 Metres At 0.51 g/t Hit

Antimony Resources Reports 13.9% Antimony in Latest Drill Core at Bald Hill

Related News

California Legislature Passes Bill That Could Extend Lifeline For Diablo Canyon Nuclear Plant

The state’s bicameral legislature passed a bill that aims to establish a fund that will...

Friday, July 1, 2022, 10:32:00 AM

California Is Saying Goodbye To Natural Gas Heaters By 2030

California is making bold strides in any aspect it can to achieve its climate agenda....

Friday, September 23, 2022, 12:36:00 PM

Airbnb Under Fire Amid Cancellation Due To California Wildfires

As the raging California wildfires consume thousands of acres and displace tens of thousands of...

Thursday, January 9, 2025, 10:22:00 AM

California Declares Emergency Over Bird Flu in Dairy Cattle

California Governor Gavin Newsom has declared a state of emergency over an outbreak of bird...

Thursday, December 19, 2024, 07:47:30 AM

California Introduces Slavery Reparations Proposals, Excludes Direct Financial Compensation

California lawmakers have introduced a comprehensive package of reparations bills aimed at addressing historical injustices...

Friday, February 2, 2024, 03:42:00 PM