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India, Aug. 10 — Facebook plans to launch a news section sometime this fall and is offering millions of dollars to news outlets in exchange for the rights to license their content, the Wall Street Journal reported, citing people familiar with the matter.

Facebook representatives informed executives of major news outlets that they are willing to pay as much as $3 million per year to license headlines, article previews and entire stories, according to the WSJ report. The news-licensing deals would be for a period of three years.

Facebook is said to have approached Wall Street Journal and MarketWatch parent Dow Jones, Bloomberg, Washington Post and Walt Disney’s ABC News, among other major news outlets.

The move by Facebook comes amid crit…

 

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