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The social networking giant is still in search of a cheap TV show production, after agreeing to pay $3 million per episode. This is really a lot of money if you ask me.

Facebook has set "late summer" as a goal for its new original series' premieres and is expected to announce multiple titles as well as a reality show dubbed Last State Standing.

Facebook has offered millions to companies to stream live content on its feed and it's only logical to want in on the streaming business.

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