Quebec government providing print media with financial assistance

According to a report by the Canadian Press, the Quebec government will be providing assistance to the province’s print media.

As part of the plan, media organizations will be able to claim a refundable tax credit equal to 35 per cent of employees’ salaries over five years to give them financial leeway while they seek a new business model.

The measure is retroactive to Jan. 1 is valid for newsroom employees earning up to $75,000 a year.

The provincial government is also extending the tax credit available to support the digital transformation of print media. That plan will run to Dec. 31, 2023.

These plans come on the heels of newspaper chain Groupe Capitales Medias filing for creditor protection this past August.

In the interim, it is worth noting that employees at the six Groupe Capitales newspapers are discussing adopting a co-operative ownership structure.