Klobuchar: Local media companies need ability to collectively bargain for advertising rates

(Minneapolis, MN) -- Legislators across the United States are looking at legislation which would allow local media companies to collectively bargain with advertisers.

U.S Senator for Minnesota Amy Klobuchar says, right now, local newspapers and many T.V stations cannot negotiate prices when it comes to advertisers. She says this has caused a ripple effect, "U.S newspapers plummeted from over 37 billion in 2008 to less than 9 billion in 2020 in terms of their revenue, " Klobuchar said in an exclusive interview with WDAY Radio's Allye Doyle, "At the start of 2020 in my own home state of Minnesota there were 24 daily papers. Now there are only 10."

She says the lack of revenue doesn't come from a lack of interest in news. Klobuchar says much of the money went directly to places like Google and Facebook, adding that the former increased their advertising profits by 32.5% in the last quarter alone. "

Klobuchar also says she has allies across the political spectrum for similar legislation. She cites several pieces of legislation which have passed committee, including restrictions against app stores, eliminating 'self-preferencing' your products, and other anti-trust legistlation. Authors and co-sponsors of the 'self-preferencing' legislation include Charles Grassley (R-IA), Amy Klobuchar (D-MN), Dick Durban (D-IL), Lindsay Graham (R-SC), Josh Hawley (R-MO), Mazie Hirono (D-HI), Cory Booker (D-NJ), Mark Warner (D-VA), Steve Daines (Montana Republican Party-MO), and Cynthia Lummis (R-WY).