(Finance) – Based on EU state aid rules, the European Commission has approved two Italian schemes for a total of 63 million euros in favor of publishers of newspapers and periodicals, as well as radio and television broadcasters, news publishers and press agencies.
Both schemes are aimed at: Supporting companies in the publishing sector they deal with financial difficulties due to the economic impact of the coronavirus pandemic and Russia’s aggression towards Ukraine; protect pluralism of the media.
Under the first scheme, which has a budget of 28 million euros, the aid is granted in the form of direct grants and is calculated on the basis of the number of hard copies of newspapers and periodicals sold in 2021 by the beneficiaries (0.05 euro per hard copy). Under the second scheme – which has a budget allocation of 35 million euros – the aid is given in the form of direct grants to radio and television broadcasters, news publishers and press agencies. The scheme will support up to 70% of the costs incurred by eligible beneficiaries for investments in digital transformation.
The Commission – reads a note – believes that the measures are necessary and appropriate to achieve the objectives pursued: development of the information media sector, wide access to newspapers and periodicals and promotion of media pluralism. The Commission concluded that the measures are proportionate, i.e. limited to the minimum necessary, and will have a limited impact on competition.
(Photo: Pexels/Pixabay)