Media Seeks Facebook Collective Bargain

Media Seeks Facebook Collective Bargain

This short article in PC Magazine touches on so many issues associated with Facebook’s stranglehold on advertising and how it is affecting news media. Facebook’s efforts to address fake news have greatly diminished the news media’s and local newspapers’ digital advertising revenue while enhancing its own. There is so much stress over this issue that over 2000 news organizations have asked Congress for collective bargaining with Facebook and Google. To counter this effort and to help local news media, Facebook is spending over $3 million, and has said more might be on the way, to help create revenue solutions that address the problem. The story is complex and the Goldman Blog has covered the issue at different times.