California announces a $250m, 5-year deal with tech firms to fund journalism and AI research, supporting local news organizations.

California has announced a first-of-its-kind deal with taxpayer money and tech companies to fund journalism and AI research, committing around $250 million over five years. The initiative, which will commence in 2025, will primarily support California-based news organizations, with $100 million allocated in the first year. The deal effectively marks the end of a year-long dispute between tech giants and lawmakers over a proposal that would require companies like Google, Facebook, and Microsoft to contribute a portion of their advertising revenue to media firms.

August 21, 2024
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