A Facebook local news investment of $300 million will go out over the course of the next three years, the social network says…
Over the next three years, Facebook plans to dole out $300 million in local news investments. These include a mix of initiatives and organizations to help promote local news in communities across the country.
$300 Million Facebook Local News Investment Announced
The move follows Google, which has already pledged a substantial sum for the same type of efforts. Facebook hasn’t exactly fostered the best relationships with small, local news outlets. Although it’s funded programming from partners such as Fox News and CNN, it’s also disrupted the industry in a number of ways.
For instance, the social network changed its algorithms for the News Feed to prioritize posts from family and friends, shifting it away from news organizations. It also put a heavy emphasis on video — which mostly favors the largest players in the news business.
Last year, Facebook announced the creation of a local news section, which began with 400 U.S. cities called “Today In.” The content is available by going into the hamburger menu on the mobile app (the three horizontal lines at the top right) and scrolling down to find “Today In…”