Facebook says it will invest $1 billion in the news industry in the next three years.
The pledge to pump the money into the industry came in a Feb. 24 blog post from Nick Clegg, VP of Global Affairs.
The pledge comes after a kerfuffle with Australia in which Facebook stopped the sharing of news on its service in Australia. That spat has now been resolved and Australia has passed a news media bargaining code.
In October 2020, Google said in a blog post that it was investing $1 billion in the news industry.
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