Facebook has announced a new investment schedule worth $700,000 to various news organizations across the country, reports Axios.
Last year, the tech giant had announced plans to provide its users with more local news. The investment is part of a greater than $300 million commitment from Facebook to achieve this aim. Apart from this, Facebook CEO, Mark Zuckerberg also was in talks with News Corp. CEO Robert Thomson to “tout the beginning of a new partnership in which Facebook would pay publishers.”
This new investment is part of the “Facebook Journalism Project Community Network,” which is a network of news outlets that are receiving grants from the tech giant.
Additionally, the company is also partnering with the Lenfest Institute for Journalism to distribute the grants.
Other plans surrounding the Facebook Journalism Project, led by veteran news anchor Campbell Brown will also be announced soon.