Facebook to Pay $1 Billion to Help News Industry

Associated Press: Facebook said it plans to invest $1 billion to “support the news industry” over the next three years. The social networking giant has been tussling with Australia over a law that would make social platforms pay news organizations. Google said in October that it would pay publishers $1 billion over the next three years. Associated Press: Australia’s law forcing Google and Facebook to pay for news is ready to take effect. The Parliament on Thursday passed the final amendments to the so-called News Media Bargaining Code.