Facebook has announced that it will invest over $300 million over the next three years to support local news organisations around the world, but primarily in the US.
According to Facebook, it would invest $300 million in news programmes, partnerships, and content. Among the components is a Pulitzer Centre — a $5 million endowment gift to launch “Bringing Stories Home”, to foster coverage on topics that affect local communities. “Report for America” is a $2 million investment in the initiative to place 1,000 journalists in local newsrooms as an exchange program.