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Los Angeles Times Receives $10 Million PPP Loan
The Los Angeles Times received a Paycheck Protection Program loan for $10 million as advertising plunged due to the Covid-19 pandemic.
The Times reported that the loan will cover employee salaries and other costs.
“We lost tens of millions of dollars in advertising revenue pretty much instantly in March 2020, and the…
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By Ted Johnson
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1 Comments Comment on Los Angeles Times Receives $10 Million PPP Loan
Who Got PPP Loans? List Shows Hollywood Talent Agencies, Law Firms, AFI And Kanye West’s Clothing Brand Among Recipients Of COVID-19 Relief
UPDATED: Hollywood talent agencies, law firms and production companies were among the recipients of loans under the Paycheck Protection Program, the massive program put in place by Congress to try to carry businesses and their employees through the COVID-19 crisis.
Among the recipients of seven-figure loans were…
News Organizations Sue For Names Of Recipients Of Coronavirus Small Business Relief Loans
The Washington Post, The New York Times, Pro Publica, Dow Jones & Co. and Bloomberg LP filed a lawsuit against the Small Business Administration on Tuesday, seeking the identities of private businesses that have received public assistance through key coronavirus relief programs.
The SBA says that it will release…
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By Ted Johnson
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Digital News Brand Axios Returns $4.8M COVID-19 Loan Due To “Politically Polarized” Climate
Axios, the digital news brand whose backers include Jeffrey Katzenberg’s WndrCo and Greycroft Partners, is returning a $4.8 million loan it secured as part of the troubled Paycheck Protection Program.
In a blog post, founder Jim VandeHei said the decision was made to give back the funds because “the program has become…
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By Dade Hayes
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House Passes $484 Billion In Coronavirus Relief, Including Replenishment Of Small Business Loan Program
The House on Tuesday overwhelming passed legislation on Thursday that will inject hundreds of billions more into a small business loan program.
The vote was 388 to 5 on the legislation, with a total price tag of $484 billion. The Senate passed the bill earlier this week, and President Donald Trump is expected to sign…
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By Ted Johnson
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