Facebook has announced it will finance the operational costs of a new and independent oversight board with initial funding of $130 million.
The new project will act as a filter deciding whether individual pieces of content should be posted on the social platform.
Facebook’s content oversight board will be individually staffed, separate from Facebook and will include a minimum of three individual trustees and a corporate trustee. Also, the board will have the power to overrule Facebook CEO, Mark Zuckerberg.
Brent Harris, Facebook’s director of governance and global affairs, said, “As stated in the charter, the bylaws will help the board create and codify its operating procedures. They will also clearly outline the partnership between the board, the trust, Facebook and, most importantly, the community of people who use our platforms.”
Further, the company plans on naming the board’s co-chairs and first members after January 2020.
Citing people familiar with the matter, the Wall Street Journal said any potential FTC action would likely be taken because of anti-competitive concerns about Facebook’s plans.
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