Facebook is courting publishers with multi-million dollar deals to launch its news tab this fall

Facebook is keen to become a main news distributor once more, after being lambasted for years over its role in aiding the spread of misinformation. A report from the Wall Street Journal last night indicated that the social network is providing major publications multi-million dollar deals to bring them on board its future news service.


The report noted the company’s supply the maximum amount as $3 million to some publications; it’s already had some discussions with ABC News, Bloomberg, Dow Jones, and the Washington Post.


Hours later, the social network confirmed to CNBC that it’s launching a dedicated news tab this fall. Earlier in April, chief operating officer Mark Zuckerberg had mentioned the corporate desires to introduce this feature by the end of the year. At the time, he said the corporate would take on recommendation from outside the organization to make it the proper way.


Last January, Zuckerberg declared Facebook booted off brands and publishers from your timeline and prioritized posts from friends and family. That resulted in a reduction of traffic for many publishers. In May, Facebook tweaked the news feed once more to get rid of clickbait and original content. This indicated the social network was operating to strike a balance between news and posts from friends – and it looks like it isn’t there simply yet.


Plus, many scandals, data leaks, and misinformation rackets have made Facebook an untrusty place to look for news. The corporate currently has to begin afresh to achieve the trust of publishers and readers alike.