Facebook Is Paying CNN $2.5 Million to Livestream on the Social Network

By Chris Ariens 

Facebook is going big on live video. So big, in fact, that the social network is shelling out $50 million dollars to entice celebrities, athletes and media companies to use the live streaming service, which is available to any Facebook user.

The Wall Street Journal reviewed a document that shows Facebook has signed nearly 140 contracts ranging from celebrity chef Gordon Ramsay, to NFL QB Russell Wilson, to cable news channel CNN.

The highest-paid publisher on the document reviewed by the Journal is BuzzFeed, slated to receive $3.05 million for broadcasting live between March 2016 and March 2017. Just behind BuzzFeed is the New York Times, which is to receive $3.03 million for a 12-month deal. CNN is third, with a $2.5 million contract.