A look at Facebook’s billion dollar 2016 hit on the news ecosystem

“Credit CEO Mark Zuckerberg and his lieutenants for belatedly acknowledging the fake news problem and inching toward assuming other responsibilities that go along with publishing, even if it’s algorithmic publishing. Is that modest progress diverting attention from the company’s bigger and devastating impact on the business of journalism? Facebook has sucked well over $1 billion out of print advertising budgets for U.S. newspapers just this year. And that’s at a time when newspapers have seen that figure (once $43 billion a year) fall well below $15 billion.” Read more at Poynter.



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