Facebook Announces $300 Million Investment to Strengthen Local News

Facebook Announces $300 Million Investment to Strengthen Local News

Facebook has announced a $300 million investment in local news programs, partnerships, and content development efforts.

Over the next three years, the investment will support journalists and newsrooms with their newsgathering needs and will help local news organizations develop and build sustainable business models. To that end, Facebook will provide a $5 million endowment gift to the Pulitzer Center to launch the Bringing Stories Home program, providing local newsrooms across the country with grants in support of coverage of topics affecting local communities. The gift also will unlock a $5 million matching gift from Emily Rauh Pulitzer, chair of the Pulitzer Center.

The social media giant also awarded $2 million to Report for America to place a thousand journalists in U.S. newsrooms over the next five years; $1 million to the Knight-Lenfest Local News Transformation Fund in support of its efforts to foster news innovation and create a technology hub aimed at evaluating and improving how technology is used by local newsrooms for newsgathering, product development, and building sustainable business models; $1 million to the Local Media Association and the Local Media Consortium to help more than two thousand member newsrooms better understand, develop, and implement revenue streams through branded content, both on and off Facebook; $1 million to the American Journalism Project to grow and sustain local civic news organizations; and $6 million over two years to the Community News Project in support of recruiting and training "community journalists" and placing them in local newsrooms.

"News is a key part of Facebook's mission to give people the power to build community and bring the world closer together," said Campbell Brown, Facebook's vice president for global news partnerships. "We're going to continue fighting fake news, misinformation, and low-quality news on Facebook. But we also have an opportunity, and a responsibility, to help local news organizations grow and thrive. We know we can’t do it alone, but there is more we can and will do to help."

(Photo credit: Gettyimages)

"Doing More to Support Local News." Facebook Press Release 01/15/2019.