Facebook announced that it will provide more financial support for the news industry working during the COVID-19 pandemic.
The investment fund includes USD 25 million in emergency grant funding for local news through the Facebook Journalism Project and USD 75 million in additional marketing spend, the official blog notes.
The first round of the grants went to 50 local newsrooms in the US and Canada. Publishers used the grant to support coverage through covering travel costs, remote work capabilities and hiring freelance reporters.
Facebook is working on providing support to publishers most in need in the hardest-hit countries.
Disclaimer: No Business Standard Journalist was involved in creation of this content
