Rupert Murdoch Asking For Financial Help From Facebook
The executive chairman for News Corporation, Rupert Murdoch, is asking for Facebook, Twitter, and even Google to subsidize the news websites that show up on people's newsfeeds. Essentially, Murdoch wants someone to pay him for the news that his company, and others like his, would put out on people's feeds.
This change comes right after the announcement of Facebook's updated newsfeed policies that prioritize friends and family first over the likes of news sites and advertisement pages.
This effectively puts news corporations at an extreme disadvantage for having their news seen at all. As anticipated, Wall Street did not take well to the news at all. They expect users will spend less money overall making their market shares decrease over time.
Newsfeed Chief for Facebook, Adam Mosseri, did not really have much to offer in the way of a compromising solution. He was quoted in the press announcement as telling news and advertisement companies to "experiment" and see what "content gets more likes." A very shunted answer when announcing that they are basically cutting off the toes of news companies.
Although, in Facebook's defense, the multitude of news companies have indeed had their fair share of issues in social media sites. The 2016 election certainly had the most information thrown out in all directions from all different outlets. There were so many different allegations throughout the whole process on both sides of the podium. Most of it was not true. So much is changing in the ever present instant technology age, and it seems that news companies are struggling to change with the times.
Fox, News Corp. would merge ideally, but years away: Rupert Murdoch