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Facebook Inc (FB.O) is set to invest $300 million globally spread over three years to make the local news remain above board as it faces stiff criticism over its role in threatening to send news business packing globally.

According to Facebook, “The investment in time and money is a remarkable growth of a plan to assist newsrooms in the U.S. and abroad create and sustain feasible business models to survive,’’ the company said on Tuesday.


Unlike the previous venture in the news business, the current arrangement is notable by how it is not dependent of Facebook-related result, recipients of the investments.


Earlier rounds of the venture in the news dealing were intended to encourage publishers to rely on delivering its product over Facebook, which turns out to clog on the wheel of many organizations as facebook re-strategizes.


Cambel Brown, the Facebook Vice President of global news partnership, disclosed they are going to continue fighting fake news, misinformation and low-quality news on facebook.


He added they also have a chance and responsibility to help local news organisations to progress and flourish.


Critics in some quarters have slammed Facebook over its role in serving as spring-board for hate speech, propaganda and political interfering.


Fran Wills, CEO of the Local Media group, a collaboration of 80 news companies representing 2,200 outlets, said Facebook is helping them form a unique content programme aimed at attracting new advertisers.


“Facebook is making this investment to support local media organisations, and open up new proceeds stream that will sustain local journalism,”


It also intended to develop an “Accelerator” programme it inaugurated in 2018 to help local newsrooms such as the San Francisco Chronicle and the Denver Post better its ability to draw subscribers and membership assistance.

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