Reuters provides insight into how Google, Facebook pledged millions for local news

Reuters provided insight into how Facebook and Alphabet Inc’s Google in recent years committed a combined $600 million to support news outlets globally, many of them local or regional enterprises foundering in a digital age. But the funding – set to last three years – does not nearly compensate for the tens of billions of dollars publishers lost as the tech companies gobbled up the digital advertising market, according to media analysts and news business executives.