More details on the Canadian Periodical Fund have emerged since the Department of Canadian Heritage first announced the program earlier this week. Here’s what we’ve learned:

• To qualify for part of the $72 million in funding that will go to print magazines, a magazine must have a minimum annual paid/request circulation of 5,000. No such floor will be placed on the $1.5 million business development fund.
• The funding formula will be based on total paid/request circulation for the print magazine, not “audience” or “readership.” The formula is still being worked out, but paid circulation is expected to be more highly-valued than request circulation.
• The $1.5 million funding cap does not apply to farm Aboriginal, farm or ethnic publications.

It is important to note that specific rules are still up for debate and will be worked out in consultations between the industry and the government over the coming months.