Los Angeles Times Receives $10-Million PPP Loan

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The Los Angeles Times has received a $10-million loan through the federal Paycheck Protection Program — money that will help cover payroll and other employee-related costs amid a dramatic plunge in advertising revenue, the company said Tuesday.

The news organization was dealt a significant financial blow last March, when businesses abruptly pulled their advertising spending amid government-mandated shutdowns intended to slow the coronavirus spread.

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