MONTREAL — The Quebec government released details Monday on how it plans to spend $36.4 million over five years to help the province’s struggling print media.
Print news media will have until Jan. 15 to present the government with plans on how they will transition to digital platforms, Quebec Culture Minister Marie Montpetit said.
She said $19.2 million will be dedicated toward helping media with that transition, while another $5.2 million will be set aside for 156 community newspapers.
Montpetit said the remaining $12 million will be given to newspaper companies in order to help relieve them of part of the costs of recycling.
Not ruling out tax credits on employee salaries
The goal of the aid package is to help print media cope with declining advertising revenue as well as competition from social media platforms that offer news free of charge.
The hand-out package had already been allocated in last March’s budget.
Montpetit said the subsidies are only the first step and adds the federal government also has a role to play.
Quebec is not ruling out offering print news media tax credits on employee salaries, she added.
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