Facebook will create a New Zealand fund to support local publishers

A new 3D printed Facebook brand logo Meta and the Facebook logo are placed on the laptop keyboard in this illustration taken November 2, 2021. REUTERS/Dado Ruvic/Illustration

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Nov 4 (Reuters) – Facebook’s parent company Meta Platforms Inc (FB.O) said on Thursday it would invest in New Zealand to promote up-and-coming news publishers and boost their digital capabilities, a month after the Social media giant landed in hot water with Australian Media over content licensing.

The company, which did not disclose the amount of its investment, said its program will include training local publishers from diverse backgrounds to boost their digital audience and revenue growth, both on and off Facebook. .

Meta also said he would partner with the International Center for Journalists to set up an advisory board of five Kiwi media staff who will help develop talent selected under the program.

The move comes just days after an Australian academic publisher urged the government to enforce a new law to force Facebook to negotiate a content deal, as it has done with other major media companies such as News. Corp (NWSA.O) and the Australian Broadcasting Corp. Read more

Facebook last week changed the name of its holding company to Meta, undergoing a rebranding at a time when lawmakers and regulators have criticized its market power, algorithmic decisions and monitoring of abuse on its services. Read more

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Reporting by Anushka Trivedi in Bengaluru; Edited by Ramakrishnan M.

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