Washington Post

Report: Facebook Is Paying Massive ‘Licensing Fees’ to Media Titans

Despite persistently declining trust, an aging audience, and a business model that can now be threatened by independent content creators on the internet, the legacy media is being propped up by the same tech companies that disrupted them, as outlined by a report in The Wrap. Although Facebook says it is supporting local media, the company is paying massive licensing fees to global media titans like the New York Times, Washington Post, Bloomberg, and Buzzfeed.

Facebook CEO Mark Zuckerberg arrives for the 8th annual Breakthrough Prize awards ceremony at NASA Ames Research Center in Mountain View, California on November 3, 2019. (Photo by JOSH EDELSON / AFP) (Photo by JOSH EDELSON/AFP via Getty Images)