Facebook is going to invest $300 m in a local journalism

The hugest social network Facebook is going to invest $300 m in local journalistic organizations during the next three years, according to the Reuters.
The company has invested in journalism before, but that money was invested in free access to Facebook products using by publishers. But now, the IT giant is ready to support local American organization of journalists. In other words, the company will help them to create new types of content, recruit staff and design a new business model.
The funds from Facebook will receive such companies as Pulitzer Center, Local Media Association, Local Media Consortium and other.
“We’re going to continue fighting fake news, misinformation, and low-quality news on Facebook,” Campbell Brown, Facebook’s vice president of Global News Partnerships said in a statement. “But we also have an opportunity, and a responsibility, to help local news organizations grow and thrive.”
Such an initiative, according to the TechCrunch statement, Facebook is trying to mitigate the damage which the company had undermined traditional publishers before. It seems like Facebook tries to save sources of content for the social network.

“We are grateful for Facebook’s commitment to helping us meet the challenges of today’s journalism, especially in smaller cities where the survival of news outlets depends on new models of reporting and community engagement,” said Pulitzer Center founder and executive director Jon Sawyer in a statement.
“We also applaud Facebook’s commitment to the editorial independence that is absolutely essential to our success,” added he.
It should be recalled, that Google announced the same journalism support program before. Google News Initiative amounts to $300 m and will support high-standard journalism, business model development for mass-media and combating with fake news.
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