Federal legislation to help Tampa Bay Times, other papers stalls in Senate
The Tampa Bay Times is among the 20 local newspapers impacted by proposed pension relief legislation pending in Congress. The measure would give the newspapers more time to catch up on required contributions to pension plans, according to a report in Roll Call. Times Publishing Co., the parent company of the Tampa Bay Times, owes nearly $32.3 million in contributions to its pension plan, the Pension Benefit Guaranty Corp. said in a lien filed June 24 in Pinellas County. The U.S. House overwhelmingly passed the pension relief bill last May, but it's stalled in the Senate, Roll Call said. Advocates said some newspapers could go bankrupt if Congress fails to act.