THE MEDIA IS IN A MELTDOWN

YAHOO NEWS

As media layoffs grow, industry pleads for urgent relief

The ailing news industry, struggling during a pandemic-induced economic slump, is pressing for new government relief as media outlets scramble to keep covering the health crisis. News outlets have begun layoffs, furloughs and pay cuts even as readers increasingly turn to the media for reliable information about the coronavirus outbreak. Many local news organizations are facing “an existential crisis” with the near collapse of advertising revenues, according to a letter from two industry groups to President Donald Trump and congressional leaders.

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