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.

PTX Metals Inc. — sponsored Sponsored · PTX Metals Inc.

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

The Gold & Copper Stocks Everyone Keeps Asking About | Oct. 12-16 – Weekly Mining Mailbag

Similar Gold Mines Are Valued 10X Higher. Why Not This One? | JW Dumont – Granada Gold Mine

The US Interest Bill Gold Can’t Ignore | Peter Grandich

Recommended

Blue Jay Gold Signs Ocean Partners Deal to Ship Steller Stockpiles Through 2027

Krait Critical Minerals Signs Option for Historical Nevada King Antimony Mine

Related News

Walmart to Pay $7.5M for Illegal Waste Disposal in California

Walmart (NYSE: WMT) has agreed to a $7.5 million settlement with California over allegations of...

Thursday, October 24, 2024, 11:22:00 AM

California Bans Sales of Gas Cars, Then Tells Citizens to Avoid Charging EVs During Heatwave

The government of California, which just last week became the first state to ban the...

Wednesday, August 31, 2022, 06:24:42 PM

Trial To Be Set As California Guns To Revoke Tesla’s Manufacturer And Dealer Licenses

It was more than a year ago when the Department of Motor Vehicles in California...

Tuesday, November 21, 2023, 02:58:00 PM

Newsom, Lawmakers Reach Agreement To Send Californians US$17 Billion in Inflation Relief

California Governor Gavin Newsom, Senate President Pro Tem Toni Atkins, and Assembly Speaker Anthony Rendon...

Tuesday, June 28, 2022, 03:47:00 PM

Environmental Groups Join Forces to Stop Progress in California

Governor Gavin Newsom of California is facing opposition from over 100 environmental groups, including the...

Tuesday, June 20, 2023, 01:29:00 PM