U.S.-based Facebook Inc., an online social media and social networking service major, plans to commit $300 million over three years in local news internationally.
The commitment is a major extension of Facebook’s aim to help newsrooms in the U.S. and abroad create and maintain feasible business models to survive.
The beneficiaries of the commitments include the Pulitzer Center, Report for America, the Local Media Association and Local Media Consortium, Knight-Lenfest Local News Transformation Fund, the American Journalism Project and the Community News Project.
The initial round of commitments in the U.S. will help strengthen resources for local reporting, help research how to use technology to advance news gathering and create new products among others.