In a report recently, Facebook has pledged to invest at least $1 billion in the news industry over the next three years.

The announcement came on the back of Australia’s government move to force tech platforms to pay for third party news content.

Media companies have complained for years that they are not fairly compensated for articles and other content that generate ad revenue for platforms like Google and Facebook, complaints that tech companies have largely ignored.

Facebook commitment to the news industry follows Google’s $1 billion investment last year.

Both Facebook and Google have acceded to Australia’s government demand of making payment for content to traditional news outlet.

Readers Bureau, Contributor

Edited by Jesus Chan

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