Facebook Inc pledged $ 100 million in funding and advertising expenditures on Monday to help news organizations, including local publishers in the United States, suffer from the pressures of the coronavirus pandemic.
News publishers, especially print media, have taken the brunt as many advertisers have used up their marketing budgets to cut costs due to virus-related uncertainty.
The 160-year-old Vatican newspaper, L & # 39; osservatore Romano, which stopped printing last week, was the latest in a series of publishing houses that had difficulty working safely after the outbreak.
Facebook's donation includes $ 25 million in emergency grants to local media and $ 75 million in marketing expenses for news organizations worldwide.
The social network said the first round of its grants went to 50 local newsrooms in the U.S. and Canada.
Corporate America has taken various measures to deal with the effects of the rapidly spreading virus, even though many companies have been forced to drastically reduce their business.
On Friday, Google parent company Alphabet Inc announced that it would donate more than $ 800 million in funds and promotional loans to businesses, government agencies, and healthcare organizations.
(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)