A bipartisan group of lawmakers filed legislation to enhance opportunities for new and independent voices in media.
Rep. Gus Bilirakis, R-Fla, introduced the Independent Programmers Tax Incentive Act. He was joined by co-sponsors Reps. Buddy Carter, R-Ga., Kathy Castor, D-Fla., Yvette Clarke, D-N.Y., Tony Cardenas, D-Calif., Robin Kelly, D-Ill., Jan Schakowsky, D-Ill., Darren Soto, D-Fla., Diana Harshbarger, R-Tenn., Carol Miller, R-W.Va., Jimmy Panetta, D-Calif., Greg Steube, R-Fla., and Maria Salazar, R-Fla.
The bill would create an investment tax credit for carriage of independent programmers by qualified multichannel video programming distributors. It aims to create a market-based incentive program to allow more small and independent programmers to have an opportunity for their content to be seen.
"This legislation is a win-win-win," Newsmax CEO Chris Ruddy said.
"It is a win for consumers who will have access to more diverse voices on their cable systems; it is a win for independent programmers that will gain more access to subscribers; and it is a win for MVPDs and vMVPDs that will be able to offset ever-increasing costs with a new tax credit when they choose to carry independent voices," he added, referring to multichannel video programming distributors and virtual multichannel video programming distributors.
While the global video market is on track to be valued at $1 trillion or more by 2030, the lion's share of the content created and seen by the consumer is controlled by traditional media and new online media.
The lawmakers say the concentration of media ownership reduces diversity of viewpoints, limits consumer choice, and creates the potential for biased coverage based upon real or perceived conflicts of interest.
The legislation attempts to change that.
"Independent media ownership offers American TV viewers different viewpoints and ensures robust competition," Bilirakis said in a statement. "This legislation levels the playing field and opens the door for independent entities to compete and thrive in the pay TV industry."
Said Steube: "I'm pleased to join my colleagues in introducing legislation that will give the American people access to a greater variety of new content providers by incentivizing more competition in an industry dominated by a handful of large media companies."
Industry leaders also applaud the bipartisan legislation.
"This legislation offers a lifeline to independent media ownership, bringing diverse viewpoints and robust competition to American TV viewers," Vme Media Inc. CEO Eligio Cedeno said.
"It will create an opportunity to level the playing field, enabling independent entities to not just survive but thrive in the competitive pay TV industry. We endorse this legislation as a vital catalyst for opening doors, embracing innovation, and allowing independent entrepreneurs to participate, ultimately nurturing a vibrant and competitive pay TV landscape."
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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