NBC News executives call Facebook ‘Fakebook’: report

NBC News executives call Facebook ‘Fakebook’: report
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NBC News executives internally refer to Facebook as "Fakebook."
 
Andrew Lack, the chairman of the network's news division, made the revelation on Wednesday and also said the company doesn't think the social media giant has any "value" as a publishing platform, according to reports from Reuters and Business Insider
 
Lack and Senior Vice President of Digital Nick Ascheim reportedly criticized the platform for how it does business with media companies at a news briefing at NBC’s offices in New York.

NBC will move its focus away from Facebook in coming months, Lack said at the event. 

"We don't put our content there because we don't think they value premium content the way some of our other partners do," said Ascheim, calling Facebook "just a marketing vehicle."
 
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The NBC executives bashed Facebook's attitude toward the distribution of news content, emphasizing the platform's recent algorithm change that favors user content over publisher content. 
 
The algorithm change has triggered layoffs and staffing changes at at least one media outlet that depended on Facebook, with its two billion-plus users, to drive traffic to their website.
 
Meanwhile, NBC is seeking other means of distribution. The network is planning to launch a digital streaming service to capture the attention of younger news consumers, given the older median age of viewers of its nightly television news programs. 
 
Facebook has also faced criticism recently for its role in spreading fake news and for selling political ads to Russian users during the 2016 election. The platform has struggled to make changes to address both issues.