Facebook Commits $100M To Struggling News Outlets

Axios reports:

Facebook says it is spending $100 million to support news outlets around the world that have been impacted by the coronavirus, the company said Monday. Whatever Facebook’s motivation, this is a much-needed cash infusion at a critical time for the local news industry.

While $25 million will be given to local news organizations in the U.S. as grants, the other $75 million is being funneled to news organizations in need globally through Facebook marketing, or ad space Facebook is purchasing to market itself from those outlets.

The new grants will be made through Facebook’s new COVID-19 Community Network grant program, which Facebook first debuted two weeks ago.