Facebook is reportedly offering news outlets millions to license content
Facebook has approached several major news organizations with offers to pay millions of dollars to license their content for a news section the company is eyeing for 2020, reports The Wall Street Journal.
The social media giant reportedly pitched the offer to outlets include ABC News, Dow Jones, The Washington Post and Bloomberg, a source told the WSJ.
According to the source, Facebook indicated it is willing to pay up to $3 million per year for content licensing deals in a three year agreement.
Facebook is reportedly planning to build a news section for a fall 2020 launch, though it’s not known if any news organizations have expressed interest in or accepted Facebook’s offer.