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    Automotive Iron Casting Market Will Increase Demand In Forecast By 2028 |Bosch (Germany), Continental (Germany), ThyssenKrupp (Germany), ZF Friedrichshafen (Germany), Honeywell International (USA), etc

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    Kiplinger’s Personal Finance: Investing: Look beyond the Ukraine invasion | Business News

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    NAR Rebrands Annual Event To ‘NXT,’ Boosts Spending To Make It ‘Iconic’

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    See Which Of These 14 Expenses Are Deductible For Real Estate Agents

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    Builder Confidence Hits Lowest Level Since June 2020

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    5 New Members Elected to University’s Board of Trustees

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    Europa League final result and highlights: Rangers beaten by Eintracht Frankfurt on penalties

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    Liberty CBD Gummies Reviews Scam Alert Don’t Buy Read First?

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    Mark Linebaugh set to become Lycoming’s next men’s basketball coach | News, Sports, Jobs

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    Williamsport’s Rumsey secures spot on Team USA national wrestling team | News, Sports, Jobs

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    Barbour Wins Sports Business Journal’s AD of the Year Award

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    Sasha Banks, Naomi Leave WWE Raw Mid-Show

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    Patriots sign two 2022 draft picks, release UDFA

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    Universal Audio Announces Hitsville EQ Collection

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House weighs allowing news media to negotiate ad rates with Big Tech

March 12, 2021
Reading Time:2 mins read

WASHINGTON – Newspaper officials and broadcasters facing a catastrophic loss of revenue and staffing urged Congress on Friday to approve legislation that would allow them to collectively negotiate ad rates with tech giants such as Google and Facebook, but some lawmakers questioned the remedy.

The legislation aims to help newsgathering organizations by creating an anti-trust exemption for negotiating better ad rates with tech giants. The goal is to slow or stop a 70% decline in ad revenue since 2005, which led to reduced staffing and more communities without newspapers.

“There are few institutions more important to the health of democracy than a free press,” Brad Smith, president of Microsoft, who supported the legislation, told the House Judiciary subcommittee on antitrust, commercial and administrative law.

More about the stimulus:All of the COVID-19 stimulus bills, visualized

Ad revenue for newspapers shrank from $49.4 billion in 2005 to $14.3 billion in 2018, according to a Pew Research Center study. Since 2004, the country has lost 2,100 newspapers. Since 2010, the number of newspaper reporters has been cut in half to 35,000, according to a report by the University of North Carolina’s Hussman School of Journalism and Media.

Tech giants gobbled up the advertising revenue during the same period. Google’s advertising revenue rose from $6.1 billion to $116 billion since 2005, according to the Pew Research Center. With enormous market share, witnesses argued Google…

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