Today the Facebook Journalism Project announced a $300 million dollar commitment to local news initiatives. As part of that commitment, Local Media Association & Local Media Consortium will receive a $1 million investment across the two organizations to help local newsrooms better understand, develop and implement revenue streams through branded content, both on and off Facebook.

On Thursday, LMA and LMC will be releasing more information about this program.

Facebook is also funding initiatives with the Pulitzer Center, Report for America, Knight-Lenfest Institute Local News Transformation Fund, American Journalism Project and Community News Project. They also plan to expand their Accelerator pilot, which launched last year to help local newsrooms with subscription and membership models.

Read the full Facebook press release here.