Facebook has reportedly entered into deals with influential media houses to launch a dedicated news tab on its platform.
According to the Wall Street Journal report, publications like Dow Jones, New York Post, News Corp, the Washington Post, and others will help the social networking platform ramp up its ambition to become a news player.
The report said on Sunday that “The New York Times has been in talks with Facebook, but a spokeswoman for the paper declined to comment on whether it had reached a deal,”.
Mark Zuckerberg, the Facebook CEO, spoke about a news section on its platform in April.
This section will reportedly be free for users, though Facebook might pay publishers whose work is featured.
Facebook is negotiating with news publishers to offer as much as $3 million for the rights to publish content on its upcoming news tab.
Zuckerberg mentioned in a recent post that “It’s important to me that we help people get trustworthy news and find solutions that help journalists around the world do their important work. Facebook could “potentially have a direct relationship with publishers to make sure that their content is available if it is really a high-quality content”.
Algorithms and human editors will decide what new content will appear for the users. there will be a breaking news section with 10 of the “top” stories of the moment.
Facebook has announced other initiatives to support journalists which include a pledge to invest around $300 million in local newsrooms and grants for people with ideas to improve the quality of news.
Last week, Zuckerberg emphasizes that his platform has now become a ‘Fifth Estate’ in the world alongside traditional news media and people no longer have to rely on traditional gatekeepers in politics or media to make their voices heard.
Zuckerberg also mentioned that “People no longer have to rely on traditional gatekeepers in politics or media to make their voices heard, and that has important consequences,”