Facebook Ends News Blackout On Australia, Vows To Invest $1Bln In Media - Statement

Facebook has ended its news lockdown in Australia after resolving its differences with the government and has also promised to invest at least $1 billion in global press organizations over the next three years, the social media company said in a statement on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 24th February, 2021) Facebook has ended its news lockdown in Australia after resolving its differences with the government and has also promised to invest at least $1 billion in global press organizations over the next three years, the social media company said in a statement on Wednesday.

"Last week... Facebook announced it was stopping the sharing of news on its service in Australia," Facebook Vice President for Global Affairs Nick Clegg said. "This has now been resolved following discussions with the Australian government - we look forward to agreeing to new deals with publishers and enabling Australians to share news links once again.

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Facebook plans to spend at least $1 billion more over the next three years, Clegg, a former United Kingdom deputy prime minister, said in the statement.

"Last month, Facebook announced deals with The Guardian, Telegraph Media Group, Financial Times, Daily Mail Group, Sky News and many more, including local, regional and lifestyle publishers, to pay for content in its Facebook News product in the UK," he said.

Similar deals have been reached with publishers in the United States and Facebook is in active negotiations with others in Germany and France, Clegg added.