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Facebook seeks to pay millions to license news

Facebook is trying to license its news

Facebook seeks to pay millions to license news
Facebook seeks to pay millions to license news

Facebook seeks to pay millions to license news

Facebook is reaching out to major news publishers and leading news organizations in the hope of securing licensing deals to republish stories and news content on its platform, according to the Wall Street Journal report.


Deals may amount to millions of dollars per publisher, with Facebook providing up to $ 3 million per year for licensing rights to some outlets


Among those who participated in the early discussions were Disney-owned ABC News, Bloomberg, Dow Jones (parent company of The Wall Street Journal), and The Washington Post.


The company is still in the midst of years of controversy over its failure to calculate its impact on society and the ways bad actors have manipulated its platform.


Facebook seems ready to try the news again, and the company now wants to re-publishers in the hope that it can re-establish itself as a destination for reliable news and real discussions.


According to the report, Facebook plans to include these articles as part of a dedicated news section that is supposed to be launched sometime this fall.


In some cases, publishers will sign deals that last up to three years and will be able to control how articles appear on Facebook and whether readers will receive only excerpts, such as the title and some text, before being sent to the publisher’s site.


The social media company may launch the new initiative early this year, although it is not clear whether any news outlets have actually agreed to Facebook’s terms.


In recent years, the company has been widely criticized for acquiring huge advertising revenue as traffic is diverted to marginal news organizations.


Dealing with some of the major news industry brands will allow Facebook to offer high-quality journalism with direct support to the organizations it produces.

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