The crisis in local news

The economic strains on local news have forced local outlets to close, shutter their print editions or consolidate into major holding groups, often headquartered in far-away cities. Most recently, billionaire Joe Ricketts' decision to shut down local city coverage site DNAInfo and Gothamist in response to employees voting to unionize has called into question how local news outlets can survive through conflicting business interests of ownership. The cuts are the latest of local coverage setbacks this month. The Houston Press has effectively closed down; The Baltimore City Paper, a 40-year-old publication, published its last issue November 1. Regulation is also upending the local news dynamic. The Federal Communications Commission is taking up several key measures that could make way for even more media consolidation under the Trump Administration, by stripping away decades-old rules that were meant to protect a diversity of local voices. A silver lining: For months advertising groups representing local media outlets worried that lawmakers would potentially use advertising taxes as a way to offset other tax cuts, which would eliminate some advertising deductions as much as 50% over 10 years. In the end, the tax plan presented by the GOP last week did not include any advertising provisions.