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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.
According to CNET, the social networking platform aims to launch a feature in the US later this year to offer people a better news experience.
"A dedicated news tab will appear prominently alongside core features like the news feed, Messenger and Watch," according to CNBC.
The Wall Street Journal had earlier reported that Facebook approached news outlets like ABC News and The Washington Post "to pay as much as $3 million to license content for its news tab".
Facebook CEO Mark Zuckerberg spoke about a news section on its platform in April.
The section would reportedly be free for users, though Facebook might pay 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 to make sure that their content is available, if it is really a high-quality content.
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.