Report: Facebook offering 'millions' to publishers for news

| | SAN FRANCISCO (US)
  • 0

Report: Facebook offering 'millions' to publishers for news

Friday, 09 August 2019 | AP | SAN FRANCISCO (US)

Report: Facebook offering 'millions' to publishers for news

Facebook is reportedly in talks with news publishers to offer "millions of dollars" for the rights to publish their material on its site. The move follows years of criticism over its growing monopolization of online advertising to the detriment of the struggling news industry.

The Wall Street Journal reported Thursday that Facebook representatives had told news executives that they'd pay as much as USD 3 million a year to license stories, headlines and other material. Facebook declined to comment but confirmed that the company is working on launching a "news tab" for its service this fall. Facebook CEO Mark Zuckerberg began talking about a news section on the service in April.

A person familiar with the matter confirmed that Facebook has approached News Corp. About paying to license Wall Street Journal stories. The person requested anonymity because they were not authorized to speak publicly about the matter.

The Journal report was not clear as to whether Facebook was offering USD 3 million to individual publishers or in total to all news organizations.

Many in the news industry have long blamed Facebook and Google for using their content for free while the social network slurped up the majority of digital ad dollars, imperiling the news industry.

A bipartisan bill introduced in Congress this year would grant an antitrust exemption to news companies, letting them band together to negotiate payments from the big tech platforms.

The Washington Post, which was also named in the report as a company Facebook approached, declined to comment. The Walt Disney Co., which owns ABC, did not immediately respond to a message for comment

 

State Editions

RU launches Yoga department website

17 September 2019 | PNS | Ranchi

Rajasthani dolls to attract devotees at OOC Club

17 September 2019 | PNS | Ranchi

Sahibganj DC seeks State’s support in MMT Ops

17 September 2019 | Kelly Kislaya | Raipur

Infighting resurfaces in JPCC

17 September 2019 | Saurav Roy | Ranchi

BJP levels fresh charges on Hemant

17 September 2019 | PNS | Ranchi

New office bearers of FJCCI to be declared soon

17 September 2019 | PNS | Ranchi

Sunday Edition

The bare necessities Simple ideas that matter

15 September 2019 | Tim de Ridder | Agenda

Heal self For a better world

15 September 2019 | Sant Rajinder Singh | Agenda

Correct your self-image

15 September 2019 | Ajit Kumar Bishnoi | Agenda

Astroturf | Watch over your karma

15 September 2019 | Bharat Bhushan Padmadeo | Agenda

Talktime | ‘I felt like an actor after doing LSD’

15 September 2019 | MUSBA HASHMI | Sunday Pioneer

Pickle me pink

15 September 2019 | Shalini Saksena | Sunday Pioneer