Facebook to launch dedicated news service

Facebook wants to launch a dedicated news section later this year, reports The Verge.

The company is reportedly in talks with various US news outlets to acquire publishing rights for their content.

These deals could be worth millions of dollars, with reports indicating that Facebook has offered as much as $3 million to certain publishers.

Participating news outlets would retain control over how their articles are published, including whether the full article, or just a snippet, is displayed on Facebook’s service.

Facebook’s news product would compete with Apple’s News Plus service, which offers users access to over 300 magazines, as well as news publications such as The Wall Street Journal and the Los Angeles Times.

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Facebook to launch dedicated news service