Facebook to Cut Funding for Some News Shows on Watch

Six months after Facebook launched a slate of original news shows from outlets like CNN, ABC News and BuzzFeed, the company has told news executives it is likely to reduce its funding for individual shows, as it refines its programming strategy for the effort.

Facebook’s overall spending on news content for its Watch service—$90 million, according to people familiar with the news effort—is expected to remain the same, but spread across a broader array of programs. It is possible that Facebook will shift money to fund news programs overseas, following the expansion internationally of the Watch service in recent months.