Worldwide

We’ll Pay You Millions To License Content

We’ll Pay You Millions To License Content”

According to The Wall Street Journal, organisations like The Washington Post, Bloomberg, and The Wall Street Journal themselves have been approached by Facebook.

While that's a pretty big number, the report didn't mention if Facebook was paying $3 million to individual publishers or all news publishers that it wanted to work with, combined.

The report comes from the Wall Street Journal, which spoke to a person familiar with the matter on the condition of anonymity.

A Facebook spokesperson confirmed to CNN Business that the company plans to launch the new tab in Facebook this fall, but wouldn't comment on the Journal's reporting about offers to media outlets.

Among those in early discussions are Disney-owned ABC News, Bloomberg, Dow Jones (also the parent company of the WSJ), and The Washington Post. It's unknown whether any of them have agreed to a deal, which the paper's sources said would run for three years.

More news: The FIBA Basketball World Cup Is Starting, Can Someone Stop Team USA?

Facebook is apparently talking to news publishers offering up millions to secure licensing deals to republish stories and other news content.

Overall, Facebook's relationship with the news industry has been highly contentious. Facebook hopes to introduce the said "News" tab by the end of the year.

Facebook and Google have always been at the receiving end of criticism from the news industry for using content for free while lapping up majority of the ad revenue, endangering news publishers.

It's also not clear what will come of this renewed effort to court publishers back to Facebook, but it's clear the company sees its massive cash reserves as the key to winning journalists back to the table.



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