The media relay news that is important, even essential, in the context of this global pandemic, and they often make this information available for free. Unfortunately, they are not unsusceptible to the effects of the economic downturn caused by COVID-19.
The loss of advertising revenueswas a problem even before the start of this crisis. However, due to the recent slowdown in business activity, several media outlets have reported a 60% decrease in their revenues, which has led to many layoffs and wage cuts. Ottawa, who has yet to deliver on its 2019 promise of a $595-million media bailout,responded to the layoff of 143 employees from CN2i’s newsrooms, stating that most of the $30 million allocated for its COVID-19 awareness campaign would be invested in the Canadian media. Moreover, the federal government announced that the advisory committee involved in allocating tax credits to print media organizations had (at last) been formed. As you’ll read below, these measures were insufficient to prevent further layoffs and closures. Thus, a growing number of voices are calling for immediate government action before the situation deteriorates beyond repair.
We will update the following list as the crisis evolves. If you have any relevant information to provide, please write us: [email protected]