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Photo: Alberto Pezzali/NurPhoto via Getty Images

Facebook is doing away with the controversial "Trending" news section next week, the company announced on Friday.

Why it matters: The section, which it introduced in 2014, was meant to help users get an easy view of the top news during the day, but Facebook says that it ultimately drove less than 1.5% of clicks to publishers on average. The feature has also come under fire more than once — most heavily in 2016, when Gizmodo reported on the human curators' practices and raised charges that the social network suppressed conservative news.

Why now: There are two motivations for Facebook. One, it has said it is looking to decrease news overall in favor of posts from friends. Second, by removing trending it won’t be criticized for promoting fake news or bad sources.

Between the lines: Facebook, like other giant tech companies, has always maintained that it's not a media company and doesn't want to make news judgments, but instead should serve as a platform for news organizations to reach the public — and for users to make choices among those publishers. The company says it is planning to give publishers new tools to flag breaking stories and feature local news content.

Go deeper

Updated 7 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President-elect Joe Biden and Vice President-elect Kamala Harris have arrived at the Capitol. Members of congressional leadership and VIPs will soon be introduced. Watch a livestream here.

What's next: Biden and Harris will take their oaths of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

In photos: The Biden and Harris inauguration

Doug Emhoff, Vice President-elect Kamala Harris, Jill Biden and President-elect Joe Biden arrive at the U.S. Capitol for the inauguration on Jan. 20. Photo: Joe Raedle/Getty Images

Joe Biden and Kamala Harris are being inaugurated as president and vice president respectively in a ceremony at the U.S. Capitol on Wednesday morning.

Why it matters: Top Democrats and Republicans gathered for the peaceful transfer of power at the Capitol only two weeks after an unprecedented siege on the building by Trump supporters. Trump did not attend the ceremony.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.