Facebook: We're not a media company. Also Facebook: Watch our news shows.

The time has come for Facebook to admit an uncomfortable truth: The social media company is, in fact, a media company.

That's been true for years, but it's a fact that's becoming more and more difficult to ignore. This week, less than two months after Mark Zuckerberg insisted to Congress that he's not running a media company, the social network announced its long-anticipated plan to launch a slate of news programming for its video portal, Facebook Watch.

The project, spearheaded by former CNN journalist and current Facebook exec Campbell Brown, is part of the company's recent commitment to "high-quality journalism" in the wake of Facebook's fake news scandals.  Read more...