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Facebook in talks to produce original TV-quality shows

CALIFORNIA: Facebook Inc is in talks with Hollywood studios about producing scripted, TV-quality shows, with an aim of launching original programming by late summer, the Wall Street Journal reported on Sunday. The social networking giant has indicated that it was willing to commit to production budgets as high as $3 million (2.35 million pounds) per episode, in meetings with Hollywood talent agencies, the Journal reported, citing people familiar with the matter. Facebook is hoping to target audiences from ages 13 to…