Newspaper, Periodical, Book, and Directory Publishers

Businesses and organizations in the Newspaper, Periodical, Book, and Directory Publishers industry (NAICS code 5111, part of the Information sector) received 18,326 PPP loans totaling $2.01B during the COVID-19 pandemic.

The average loan for this industry was $109,846 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

95.2% of loans in this industry were forgiven — totaling $1.95B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include THE PHILADELPHIA INQUIRER LLC of PHILADELPHIA, PA ($10,000,000); ADVANCE LOCAL HOLDINGS CORP. of NEW YORK, NY ($10,000,000); and NEWSDAY LLC of MELVILLE, NY ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Information sector — publishing, motion picture, broadcasting, telecommunications, and data processing. — businesses in NAICS 5111 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.