Facebook to Provide $100 Million to Support Local Newsrooms Facing Financial Cuts Caused by COVID-19
Facebook announced that it will be offering $100 million worth of support to local newsrooms that are trying to cover the COVID-19 pandemic, while that same pandemic is dealing a major blow to their bottom lines, reports Yahoo News.
The company says the funding will consist of $25 million in grant funding for local coverage, plus $75 million in marketing for news organizations around the world.
“If people needed more proof that local journalism is a vital public service, they’re getting it now,” said Campbell Brown, Facebook’s vice president of global news partnerships, in a blog post. “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.”
More here.
