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Facebook to invest $300 million in local journalism

NEW YORK: Facebook announced Tuesday that it will invest $300 million over three years in various projects related to journalism, especially to promote local news, which has been hit hard in the digital age. The move comes with online platforms under pressure for dominating the internet advertising ecosystem, making it harder for news organizations to make a transition to digital. "People want more local news, and local newsrooms are looking for more support," Campbell Brown, Facebook's vice president in charge of…