Wash. Gov Oks Tax Cut For Newspapers

From the Seattle Times.com:

Gov. Chris Gregoire has approved a tax break for the state's troubled newspaper industry.

The new law gives newspaper printers and publishers a 40 percent cut in the state's main business tax. The discounted rate mirrors breaks given in years past to the Boeing Co. and the timber industry.

Newspapers across the country have resorted to layoffs and other cost-cutting moves to deal with a wounded business model and a recession-fueled drop in advertising.

The Seattle Post-Intelligencer printed its final edition earlier this year and was converted to an Internet-only publication with a much-reduced staff.