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Newspaper Group Says 'No Thanks' to Government Handouts

John Sturm, CEO of the Newspaper Association of America, told a congressional committee yesterday that troubled newspapers are not looking for a financial 'bailout' or any other special subsidy.

However, he did offer some alternatives. Strum says the NAA supports laws to expand net operating loss provisions at papers to five years instead of two years. The group also wants regulations that would allow newspapers more leeway in the cash reserves presently required to fund pensions.

In addition, Strum supports laws that allow newspapers to operate as non-profit entities while continuing to generate advertising revenue. He says such legislation "has merit and could work in certain situations."

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