NEWSPAPERS VS SOCIAL MEDIA

The struggling print news industry is joining calls to increase oversight of tech giants like Facebook and Google, urging policymakers to also take into account how Silicon Valley has upended the business of journalism, reports The Hill

The House Judiciary Committee’s antitrust investigation into tech giants will hold a hearing Today to hear from industry leaders and advocates who believe that Silicon Valley is responsible for the decline in local newspapers and has threatened the business models relied on by many outlets.

Lawmakers in both parties have steadily turned against the tech giants, fueling a growing movement to scrutinize their market power and their collection of user data.

And as Congress inches towards setting new rules or the industry, the conversation has largely focused on how to protect consumers from digital surveillance and startups from anticompetitive forces.

The focus at the hearing will likely be on a bipartisan bill introduced in both the House and Senate that would give news publishers an exemption from antitrust law so they can band together and negotiate collectively with Facebook and Google for more advertising revenue.

Among those testifying at the hearing will be representatives from the News Media Alliance and Rupert Murdoch’s News Corp, as well as Kevin Riley, the editor-in-chief of the Atlanta Journal-Constitution.

According to the Pew Research Center, newspaper advertising revenue has plummeted since the mid-2000s when U.S. papers brought in more than $49 billion from advertising. Pew estimated that number was down to $16.5 billion in 2017.

More News from Tuesday, June 11, 2019