Facebook provides $100 million in support for media companies and organizations in the U.S. and worldwide

On March 30, Facebook pledged to provide $100 million for media organizations and companies impacted by COVID-19 in the U.S. and other places around the world. Media organizations, companies, and publishers are all currently under pressure from cutting ad spending from their clients.

Facebook said that its grant would be divided into 2 parts. $25 million would be used to support local media companies and organizations. The remaining $75 million would be used to aid other media companies and organizations across the globe. In its initial round, Facebook would provide help for 50 media organizations in the U.S. and Canada.

Major corporations in the U.S. have also taken measures to assist other companies and businesses who have taken a brunt of COVID-19 even though many of them are suffering the same situation.

On March 27, Alphabet Inc., Google’s parent company announced that it would donate $800 million in COVID-19 relief funds to the government, companies and health organizations.

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SourceReuters

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