This law establishes a support system for privately-owned media outlets to strengthen news services, democratic discourse, and the Icelandic language. Media organizations can apply for general operational support or additional support to cover costs related to producing news and news-related content. A three-member allocation committee, appointed by the minister, evaluates applications and distributes funding to media outlets that meet specific criteria regarding staff numbers, publication frequency, and news coverage. The law is in effect until the end of 2030, after which the committee will publish an evaluation report on the support system.