- Facebook says it’s granting $300 million to news programs, partnerships and content over the next 3 years, matching Google’s commitment of $300 million towards news initiatives last year.
- WordPress, the content management tech company owned by web development giant Automattic, is also investing six figures in The News Project, Axios has learned.
- These efforts are often opportunistic investments, just as much as they are philanthropic efforts.
Major tech companies and moguls are pouring lots of money into initiatives to support quality journalism, after months of bad headlines about fake news and the longer-term struggles of business models for journalism, especially at the local level.
Why it matters: The efforts are meant to show tech’s support for quality journalism, even though its products and business models often feel at odds with fostering a quality news ecosystem.