The latest injection of money into coronavirus small-business relief will be a lifeline for many businesses — but local newspapers, radio and TV stations worry that it won’t be enough o…
— have been lobbying Congress to get a provision in relief legislation that would make larger chains eligible for the relief program if they have fewer than 500 employees per physical location of their businesses. That would be similar to a provision for the restaurant and hospitality industry that was included in“Even though these news outlets may be owned by larger groups, they operate independently,” a bipatisan group of four senators — Sen. Maria Cantwell , Sen. Amy Klobuchar , Sen.
Even though there have been plenty of attacks on the news media from political figures, that hasn’t been a factor so far in the push for local media relief. “We have not really seen this being a really highly partisan issue,” Chavern said, comparing it to the common scenario where voters express their disdain for Congress yet “love their congressman.”
One of the new factors, though, is the potential public backlash. That was what happened when certain recipients such as Shake Shack and Ruth’s Chris Steakhouse received after they secured SBA loans under the special provision for restaurants. They eventually returned the money, but the public shaming is a warning sign for any media conglomerate that would be a beneficiary of small-business loan funds and the federal outlay is quickly depleted.
“I don’t know what the appetite will be for Americans” to go out, Hubbard said. “It is not like everyone is going to just run out. There is something in the middle [between fast reopening and continued stay-at-home], and I don’t know what it is going to be.”
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