Facebook is in talks with news publishers to offer as much as $3 million for the rights to publish content on its upcoming news tab.
The social networking platform aims to launch a feature in the US later this year to offer people a better news experience on the social networking website.
"A dedicated news tab will appear prominently alongside core features like the news feed, Messenger and Watch," according to a CNBC report.
Facebook has also approached news outlets like ABC News and The Washington Post "to pay as much as $3 million to license content for its news tab".
Earlier this year, Facebook CEO Mark Zuckerberg spoke about a news section on its platform. The section would reportedly be free for users. However, Facebook might end up paying publishers whose work is featured.
"It's important to me that we help people get trustworthy news and find solutions that help journalists around the world do their important work," Zuckerberg wrote in a post.
Facebook could potentially have a direct relationship with publishers in order to have their original content published on the social media site's upcoming news tab.
Facebook has announced other initiatives to support journalists, including a pledge to invest $300 million in local newsrooms and grants for people with ideas to improve the quality of news.