Facebook sets up $100m fund to prop up news reporting

The fund will "support the news ecosystem" 

Facebook founder Mark Zuckerberg has announced $100m in new funds to support news organisations, with a particular focus on local news.

Zuckerberg said that the fund will help to ensure that information about the Covid-19 crisis is “accurate and timely”.

His statement continued: “Right now journalists are working under very difficult conditions to keep their communities informed, and many news organizations are struggling due to the economic impact of the outbreak.

“Local news is especially hard hit, so we're committing $25 million for emergency grant funding through the Facebook Journalism Project, and another $75 million in marketing spend to support journalists and news organizations covering the crisis.

“This new emergency program is in addition to the $300 million we've committed to supporting news, and local news in particular, over the next few years.

"We're hoping this will support many journalists through this period so they can continue doing their critical work of keeping all of us informed.”

Campbell Brown, head of news partnerships at Facebook, said: "Today Facebook is announcing a $100 million investment to support news organizations as they navigate the economic impact of the coronavirus outbreak.

"We are grateful for the tireless work of journalists, and local journalists in particular, around the world who are keeping us all informed during this critical time."

Facebook sets up $100m fund to prop up news reporting
Facebook sets up $100m fund to prop up news reporting

Facebook founder Mark Zuckerberg has announced $100m in new funds to support news organisations, with a particular focus on local news.

Zuckerberg said that the fund will help to ensure that information about the Covid-19 crisis is “accurate and timely”.

His statement continued: “Right now journalists are working under very difficult conditions to keep their communities informed, and many news organizations are struggling due to the economic impact of the outbreak.

“Local news is especially hard hit, so we're committing $25 million for emergency grant funding through the Facebook Journalism Project, and another $75 million in marketing spend to support journalists and news organizations covering the crisis.

“This new emergency program is in addition to the $300 million we've committed to supporting news, and local news in particular, over the next few years.

"We're hoping this will support many journalists through this period so they can continue doing their critical work of keeping all of us informed.”

Campbell Brown, head of news partnerships at Facebook, said: "Today Facebook is announcing a $100 million investment to support news organizations as they navigate the economic impact of the coronavirus outbreak.

"We are grateful for the tireless work of journalists, and local journalists in particular, around the world who are keeping us all informed during this critical time."

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