Commission approves a Cypriot scheme to support newspapers affected by #Coronavirus outbreak

The European Commission has approved a €106,000 Cypriot scheme to support newspaper companies in the context of the coronavirus outbreak. The scheme was approved under the state aid Temporary Framework. The public support will take the form of direct grants to newspaper publishers that have experienced a loss of their turnover due to the coronavirus outbreak. The scheme aims to ensure that the disruptions caused by the outbreak do not undermine the viability of the publishers and thereby preserve the continuity of economic activity. The Commission found that the scheme is in line with the conditions set out in the Temporary Framework. In particular, the amount of aid granted will not exceed €800,000 per company.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure under EU state aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here.

The non-confidential version of the decision will be made available under the case number SA.57762 in the state aid register on the Commission's competition website once any confidentiality issues have been resolved.

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