Facebook pledges $100 million in grant money and ad spending to help news outlets weather the financial blow of the coronavirus
Facebook Inc. is pledging $100 million in grant money and promised ad spending to help struggling news outlets weather the financial blow of the coronavirus outbreak.
News outlets—particularly smaller, local newspapers—face substantial advertising revenue declines as shuttered or disrupted businesses pull back spending. While readership has spiked and some media companies have enjoyed increases in online subscriptions, the advertising drop is already forcing many outlets to reduce pay or lay off workers.
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