Newspapers face uphill battle to survive a pandemic

A thirst for information about the coronavirus and spreading social unrest means demand for news has been booming. But the catastrophic effects of the virus on the US economy have hammered the newspaper industry, leading to dramatic declines in advertising revenue as well as layoffs, furloughs and other economic distress.

More than 30 newspapers have already closed across the US since the pandemic began. Advertising revenue could decline 45% by the fourth quarter of 2021, according to FTI Consulting, a management consulting firm. Relief funding from the federal government is one potential salve for those financial wounds, but so far, news outlets have struggled to gain access to such funds. In many ways, the industry's future seems bleak.

On Capitol Hill, though, there remain glimmers of hope.

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