Facebook is reportedly in talks with news publishers to offer “millions of dollars” for the rights to publish their material on its site.
The move follows years of criticism over its growing monopolisation of online advertising to the detriment of the struggling news industry.
The Wall Street Journal reported that Facebook representatives had told news executives that they would pay as much as 3 million US dollars a year to license stories, headlines and other material.
Facebook declined to comment but confirmed that the company is working on launching a “news tab” for its service this autumn.
Many in the news industry have long blamed Facebook and Google for using their content for free while they benefited from the majority of digital ad dollars.
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
