Facebook pledged $100 million on Monday to help support news outlets who have seen their businesses impacted by the coronavirus pandemic.
In a post on his Facebook page Monday, CEO Mark Zuckerberg said the company wants to emphasize assisting local news outlets in particular, and has committed $25 million in “emergency grant funding” to make this happen.
“Right now journalists are working under very difficult conditions to keep their communities informed, and many news organizations are struggling due to the economic impact of the outbreak,” Zuckerberg said.
Another $75 million in marketing spend has been allocated for the project, as many outlets have seen their advertising dry up as businesses are decimated by the coronavirus outbreak.