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Facebook to Invest $100 Million in News Outfits

Facebook will invest $100 million in the news industry, with $25 million headed emergency grant funding for local news through the Facebook Journalism Project, and $75 million to “news organizations around the world,” the social platform said.

Facebook noted the role journalists are playing to cover stories such as coronavirus. “Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe,” said Campbell Brown, Facebook VP of global news partnerships.

The first round of grants went to 50 local newsrooms in the U.S. and Canada, including newspapers The Post and Courier of South Carolina and Southeast Missourian and online news organization El Paso Matters.

Facebook did not mention any TV news outfits that it invested in.

“If people needed more proof that local journalism is a vital public service, they're getting it now,” said Facebook. “And while almost all businesses are facing adverse financial effects from this crisis, we recognize we're in a more privileged position than most, and we want to help.”

Facebook has already committed $300 million to a variety of news programs and partnerships, including Report for America and The Community News Project.