Facebook imbursing best news companies millions of dollars yearly to License content

With a new plan to add a news section to its platform, Facebook has reportedly offered several news outlets millions of dollars in exchange for the rights to display their content in a news section.

These news outlets like ABC News, the Washington Post, Bloomberg, and Wall Street Journal are lined up by Facebook for their new news idea.

The company is looking to launch a new news tab later this year featuring what it deems “trustworthy news” to users as media outlets reports. This new platform on Facebook comes after it received a lot of backlash for how it handles news and activities in the world.

In a bid to battle fake news in the past, the social network built internal tracking tools to flag potentially edited content, which it will share with its third-party fact checkers for review.

In 2016, an effort to stem the tide of misinformation and fake news that had been allowed to percolate on the platform by partnering with fact-checking and news organizations crashed wholly by last December, according to some news outlets.

In June, 2019, a group of political news sites, all joined forces to form the Digital News Alliance, an advertising sales partnership designed to help the likes of Daily Caller and Raw Story compete with tech giants around including not only Facebook, but Google, too.

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Those with credible information on the new news venture told the Journal that Facebook has considered giving outlets discretion over how their content would be presented in the news tab, which ought to launch in the fall.

There has been no news of which news outlets has signed on for such collaboration. Facebook has not yet responded as regards latest comments on their new offer to these news outlets.

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Ihezie Christopher

An IT Writer, Blogger and Content Developer at Reviewnetgato media company.
I am a tech enthusiasts with a zeal and passion to develop life globally through technology