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Facebook Inc. (NASDAQ:FB) To Pay $3 Million For News Headlines On New News Tab

For years, Facebook Inc. (NASDAQ:FB) has refuted claims that it is expanding its footprint into the media business.  Going by things on the ground, things could be different. The giant networking company is in the process of launching a new news tab that will focusing purely on trustworthy news only. The new news tab will be a significant addition to Facebook growing news service that currently includes News Feed and Messenger.

New Editorial Guidelines

The launch comes at a time when the tech giant is under scrutiny over claims it is a base for fake news. By focusing on news headlines from prominent publishers and reputable outlets, Facebook hopes to boost its reputation on the dissemination of news.  The Wall Street Journal reports that the networking giant has already approached the likes of ABC News, Bloomberg and the Washington Post for its news service.

Relying on a reputable and trustworthy news outlet is not the only trick that Facebook is using to become a reliable platform for news.  The company has established new editorial guidelines that will change how news appears in people’s Facebook accounts. Part of the effort involves curating the news so that people only get to access relevant news.

Facebook curators are also tasked with the responsibility of prioritizing local news outlets and stories for each user on the platform. The stories will also have to come with on the record sources a move that seeks to do away, with stories that rely on anonymous sources. The curators will also post news headlines of stories that come from more than one whitelisted media outlet.

 Licensing Deal

The new editorial guidelines will bar the listing of news headlines that feature profanity. Unlike in the past, Facebook will also allow the listing of news headlines that calls out its ethical and technical fallings without any censorship.

In a bid to make the new news service a success, Facebook is reportedly offering as much as $3 million per year to media outlets to license news headlines Facebook is also offering three-year licensing deals, and the media outlets will be able to choose how their content appears on the social networking platform.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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