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Facebook Invests Additional $100 Million to Support News Industry During Coronavirus
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variety.comSocial media giant Facebook is investing $100 million to support local news organizations during the coronavirus pandemic, in addition to its previous commitment to spend $300 million over a three-year period.
Around $25 million of the new package will be emergency grant funding for local news via the Facebook Journalism Project. A further $75 million is additional marketing spend “to move money over to news organizations around the world,” Campbell Brown, VP of global news partnerships, said in a statement. “At a time when journalism is needed more than ever, ad revenues are declining due to the economic impact of the virus,” Brown said. “Local journalists are being hit especially hard, even as people turn to them for critical information
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