Given the left-leaning proclivities of the MSM, of course, it amounts to not just a bailout of a "broken business model" but also a subsidy for the left's propaganda machine. Taxing me to subsidize the NY Times would be like taxing George Soros to subsidize Rush Limbaugh.
Basically, the FTC wants Washington to tax the hell out of broadcasting, consumer electronics, advertising, and cell phones, then use this money to "fund" local news, give tax credits to news organizations, and other goodies.
And all this to "save" the Mass Media.
So, they take money from consumers that didn't want to pay those news organs, cycle it through the .gov and then give it to those failing companies as a bribe... err stipend.
But it's all for a good reason, to ensure that the proper media exists. A media that that doesn't have to worry about such grubby things as ensuring people are still willing to pay for their services.
No, they just have to worry that the government keeps paying them for their services.
Ahhh.... elitism, crony capitalism, and state propaganda.