Facebook willing to pay millions to news publishers for their content

Facebook is reportedly in talks with news publishers to offer 'millions of dollars' for the rights to publish their material on their site, according to a report from 'The Wall Street Journal.'

Speaking to "The Wall Street Journal" on Thursday, Facebook representatives told news executives that they would pay up to $ 3 million a year to license stories, headlines and other material. The move follows years of criticism for its increasing monopolization of online advertising to the detriment of the troubled news industry.

Many in the news industry have long blamed Facebook and Google for using their content for free, while the social network consumed most of the dollars in digital advertising, jeopardizing the news industry.

Facebook CEO Mark Zuckerberg started talking about a news section about the service in April. It was also confirmed that the company plans to launch the new tab on Facebook this fall.

Media contacted by Facebook included "ABC News," owned by "Disney," "The Washington Post," "Bloomberg," and "Dow Jones," according to the Journal.

The Journal's report said the license agreements would be for three years. However, it is not clear if any means of communication has been registered.
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