Facebook To Invest $300M In Journalism Programs

CNN reports:

Facebook says it is making by far its biggest investment yet into struggling sectors of the news industry. On Tuesday the company is announcing a three-year commitment to invest $300 million in “news programs, partnerships and content.”

Some of the funds will go directly to nonprofit organizations like the Pulitzer Center and Report for America. The cash infusion will also dramatically expand Facebook’s existing effort to help news websites convert readers into paying subscribers.

“We don’t want publishers to be dependent on us, but we do want to support them,” Campbell Brown, Facebook’s Vice President of global news partnerships, said in a telephone interview.