Facebook announced on Wednesday that it would be investing $1 billion in the news industry over the next three years, a week after a standoff with Australia over new laws that would require it to pay publishers to share their content. “We absolutely recognize quality journalism is at the heart of how open societies function — informing and empowering citizens and holding the powerful to account,” Facebook said in a statement.
Source: Facebook pledges $1 billion investment in news over next 3 years