Report: FB offering ‘millions’ to publishers for news

Facebook is reportedly in talks with news publishers to offer “millions of dollars” for the rights to publish their material on its site. The move follows years of criticism over its growing monopolization of online advertising to the detriment of the struggling news industry.

The Wall Street Journal reported Thursday that Facebook representatives had told news executives that they’d pay as much as USD 3 million a year to license stories, headlines and other material. Facebook declined to comment but confirmed that the company is working on launching a “news tab” for its service this fall. Facebook CEO Mark Zuckerberg began talking about a news section on the service in April.