This is part of an ongoing effort to better align our investments to our products and services people value the most. As a company, we have to focus our time and resources on things people tell us they want to see more of on the platform, including short-form video.
The fate of Facebook News' shutdown is due to regulatory moves and Meta's withdrawal from investing in new products. Legislations passed in countries Australia and Canada resulted in authorities asking platforms to pay online publishers for their content.
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