CALIFORNIA, Jan. 15 -- In the face of intense criticism over its role in the erosion of the news business worldwide, Facebook has announced to invest $300 million in local news globally over the three years.

The company said that the proposed investment is aimed at helping newsrooms in the US and abroad to create and sustain viable business models to survive.

Unlike earlier investments in the news business, this latest round is distinguished by how it is not tied to Facebook-related products, recipients of the investments say.

Earlier investments in the news business were designed to encourage publishers to rely on delivering its products over Facebook. When the company changed its strategy it hurt many news organisations.

"We're goin...