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Facebook Pledges $100M to Help Struggling Media Amid Coronavirus

Could Facebook be local media’s knight in shining armor? The tech giant, which has been trying to change its public image after a series of damaging incidents, has unveiled an additional $100 million investment to support the news industry. This includes a $25 million emergency grant fund for local news through the Facebook Journalism Project, and $75 million in additional marketing spend to move money over to news organizations around the world. “The news industry is working under extraordinary conditions to keep people informed during the COVID-19 pandemic. At a time when journalism is needed more than ever, ad revenues are declining due to the economic impact of the virus,” Campbell Brown, vice president of global new partnerships, said in a blog post. “Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe,” she added. Indeed, a number of alt-weeklies across the U.S. have been forced to lay off staff or suspend print editions as they struggle to tread water amid plunging advertising revenues as their biggest clients — local restaurants, bars, retail and festivals — temporarily shut up shop. Nor is it just local media that is struggling as a surge

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