Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Friday, August 23, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Taxpayers and tech companies will help fund journalism and AI research in landmark California deal

August 22, 2024
in Business
Reading Time: 3 mins read
A A
Taxpayers and tech companies will help fund journalism and AI research in landmark California deal
0
SHARES
ShareShareShareShareShare

Taxpayers and tech companies will help fund journalism and AI research in landmark California deal

California will be the first U.S. state to direct millions of dollars from taxpayer money and tech companies to help pay for journalism and AI research under a new deal announced Wednesday.

READ ALSO

Millennial U.K. lawyers are getting a $50k bonus for referring their friends

Greenpeace files supreme court case accusing Finland of climate inaction

Under the first-in-the-nation agreement, the state and tech companies would collectively pay roughly $250 million over five years to support California-based news organization and create an AI research program. The initiatives are set to kick in in 2025 with $100 million the first year, and the majority of the money would go to news organizations, said Democratic Assemblymember Buffy Wicks, who brokered the deal.

“This agreement represents a major breakthrough in ensuring the survival of newsrooms and bolstering local journalism across California — leveraging substantial tech industry resources without imposing new taxes on Californians,” Gov. Gavin Newsom said in a statement. “The deal not only provides funding to support hundreds of new journalists but helps rebuild a robust and dynamic California press corps for years to come, reinforcing the vital role of journalism in our democracy.”

Wicks’ office didn’t immediately answer questions about specifics on how much funding would come from the state, which news organizations would be eligible and how much money would go to the AI research program.

The deal effectively marks the end of a yearlong fight between tech giants and lawmakers over Wicks’ proposal to require companies like Google, Facebook and Microsoft to pay a certain percentage of advertising revenue to media companies for linking to their content.

The bill, modelled after a legislation in Canada aiming at providing financial help to local news organizations, faced intense backlash from the tech industry, which launched ads over the summer to attack the bill. Google also tried to pressure lawmakers to drop the bill by temporarily removing news websites from some people’s search results in April.

“This partnership represents a cross-sector commitment to supporting a free and vibrant press, empowering local news outlets up and down the state to continue in their essential work,” Wicks said in a statement. “This is just the beginning.”

California has tried different ways to stop the loss of journalism jobs, which have been disappearing rapidly as legacy media companies have struggled to profit in the digital age. More than 2,500 newspapers have closed in the U.S. since 2005, according to Northwestern University’s Medill School of Journalism. California has lost more than 100 news organizations in the past decade, according to Wicks’ office.

The Wednesday agreement is supported by California News Publishers Association, which represents more than 700 news organizations, Google’s corporate parent Alphabet and OpenAI. But journalists, including those in Media Guild of the West, slammed the deal and said it would hurt California news organizations.

State Sen. Steve Glazer, who authored a bill to provide news organizations a tax credit for hiring full-time journalists, said the agreement “seriously undercuts our work toward a long term solution to rescue independent journalism.”

State Senate President Pro Tempore Mike McGuire also said the deal doesn’t go far enough to address the dire situation in California.

“Newsrooms have been hollowed out across this state while tech platforms have seen multi-billion dollar profits,” he said in a statement. “We have concerns that this proposal lacks sufficient funding for newspapers and local media, and doesn’t fully address the inequities facing the industry.”

Recommended Newsletter: High-level insights for high-powered executives. Subscribe to the CEO Daily newsletter for free today. Subscribe now.

Credit: Source link

ShareTweetSendSharePin
Previous Post

What a Kamala Harris victory could mean for Europe

Next Post

Australian Olympian Rachael ‘Raygun’ Gunn signs with influencer agency

Related Posts

Millennial U.K. lawyers are getting a k bonus for referring their friends
Business

Millennial U.K. lawyers are getting a $50k bonus for referring their friends

August 23, 2024
Greenpeace files supreme court case accusing Finland of climate inaction
Business

Greenpeace files supreme court case accusing Finland of climate inaction

August 23, 2024
Top economist Mohamed El-Erian says traders are too aggressive on Fed rate cut expectations
Business

Top economist Mohamed El-Erian says traders are too aggressive on Fed rate cut expectations

August 23, 2024
Apple AirTag helped California woman outsmart alleged mail thieves
Business

Apple AirTag helped California woman outsmart alleged mail thieves

August 23, 2024
Supreme Court affirmative action ban takes toll on MIT incoming class
Business

Supreme Court affirmative action ban takes toll on MIT incoming class

August 23, 2024
In election race, prediction markets are challenging traditional polling
Business

In election race, prediction markets are challenging traditional polling

August 22, 2024
Next Post
Australian Olympian Rachael ‘Raygun’ Gunn signs with influencer agency

Australian Olympian Rachael 'Raygun' Gunn signs with influencer agency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Axena Health, UpScriptHealth partner on telehealth service for women

Axena Health, UpScriptHealth partner on telehealth service for women

July 30, 2024
Steph Curry’s ‘storybook’ Olympics ending might be greatest moment

Steph Curry’s ‘storybook’ Olympics ending might be greatest moment

August 11, 2024
Suni Lee wins second medal of Paris Olympics after comeback from kidney disease

Suni Lee wins second medal of Paris Olympics after comeback from kidney disease

August 1, 2024
NFL could vote soon on private equity buy stakes in teams

NFL could vote soon on private equity buy stakes in teams

August 18, 2024
Unemployment rate jumped to 4.3% in July as hiring hit the brakes

Unemployment rate jumped to 4.3% in July as hiring hit the brakes

August 2, 2024
Mark Zuckerberg is surprisingly angry about closed platforms

Mark Zuckerberg is surprisingly angry about closed platforms

July 30, 2024
Christope De Vusser is the first European to lead American giant Bain & Company—here’s how he’s leveraging AI tools to make consultants work ‘smarter’

Christope De Vusser is the first European to lead American giant Bain & Company—here’s how he’s leveraging AI tools to make consultants work ‘smarter’

August 15, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Jets’ Tyler Conklin finding more of a rhythm with Aaron Rodgers
  • Millennial U.K. lawyers are getting a $50k bonus for referring their friends
  • Nestle CEO replacement not such a bad thing for investors: Analyst
  • Japan’s yen has seen wild swings this year — is it still a safe-haven asset?

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In