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Facebook puts faces on its live streaming service for $50mln

Last updated: 15:32 22 Jun 2016 EDT, First published: 10:32 22 Jun 2016 EDT

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Videos pack a punch at $50mln

Facebook (NASDAQ:FB) has signed a slew of deals worth more than $50mln with media companies and celebrities to create videos for its live-streaming service.

In all, 140 deals are involved, with BuzzFeed’s the single-largest at $3.05mln, followed by New York Times at $3.03mln and cable broadcaster CNN third on $2.5mln, according to the Wall Street Journal.

Among the celebrities to feature are chef Gordon Ramsay, NFL quartback Russell Wilson, wellness expert Deepak Chopra and funnyman Kevin Hart.

Facebook shares were down 0.4% at $113.98 on Wednesday.

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