Neighbourhood Technology Desk: Facebook Inc said on Wednesday it would introduce US news programs this year hosted by Anderson Cooper of CNN, Shepard Smith of Fox News and Jorge Ramos of Univision to try to improve the quality of news on the social network. There also paying the three companies and other news organisations to produce shows for its video service, known as Watch, in the hopes of countering false news stories and boosting the social network’s fledgling video ad business.
On the business side, Facebook has turned to video as a source of advertising revenue as inventory in its News Feed becomes scarce. Facebook competes for content and ad revenue with companies such as Alphabet Inc’s YouTube, Snap Inc and Twitter Inc. Facebook will share ad revenue with the companies in addition to paying them to produce the programs. Facebook has had a rocky relationship with news organizations as it piles up advertising profits while paying little for content, but news executives expressed satisfaction with the latest arrangement.