Facebook pledges $1 bn for news, defends Australia blackout

San Francisco (AFP) – Facebook on Wednesday pledged to invest at least $1 billion to support journalism over the next three years as the social media giant defended its handling of a dispute with Australia over payments to media organizations. Nick Clegg, head of global affairs, said in a statement that the company stands ready to support news media while reiterating its concerns over mandated payments. “Facebook is more than willing to partner with news publishers,” Clegg said after Facebook restored news links as part of a compromise with Australian officials. “We absolutely recognize qualit…

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HEDGE accordingly