Facebook CEO Mark Zuckerberg shared plans to inject millions of dollars into the news business Friday, winning applause and laughs from a crowd of media industry executives and reporters, a sharp contrast to lawmakers who grilled him on the Hill earlier in the week.
The project, “Facebook News,” marks a definitive change in the company’s relationship with an industry that has been buffeted and bruised by the unpredictability of the Facebook algorithm and the social giant’s popularity with advertisers.