Facebook says it will pay $1 billion over three years to news industry

Facebook, following in Google’s footsteps, says it plans to invest $1 billion to “support the news industry over the next three years.

The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organisations, said it has invested $600 million since 2018 in news.

Google said in October that it would pay publishers $1 billion over the next three years.