Matt Rourke / AP File Photo

Facebook has hired MTV executive Mina Lefevre to lead development of scripted and unscripted content, according to The Verge.

Why now?: After years of saying it wasn't interested in becoming a buyer of content, Facebook announced in December that it would begin buying original programming to build a pipeline for the site, per Hollywood Reporter. CEO Mark Zuckerberg told investors the site is looking at short-form content before moving to longer projects to compete with other streaming services like Netflix.

Why it matters: Facebook wants to increase the amount of video on the site to keep its users more engaged, therefore increasing the time they spend on the social network. Also, having its own content gives the company more inventory to sell ads against. Bringing on a seasoned TV executive will jumpstart operation.

Go deeper

Child care crisis is denting the labor market

Reproduced from Pew Research Center; Chart: Axios Visuals

New data from the Pew Research Center shows that parents are being hit especially hard by the coronavirus pandemic, and as far as job losses go, mothers and fathers are faring equally poorly.

Why it matters: Economists have been warning for months that the pandemic could do long-term damage to the economy as people remain unemployed for longer stretches of time.

Mike Allen, author of AM
1 hour ago - Politics & Policy

Trump-Biden venom on display during final debate

Photos: Brendan Smialowski/AFP via Getty Images; Jim Watson/AFP via Getty Images

Joe Biden twice referred to President Trump as "this guy," and Trump called the former vice president's family "like a vacuum cleaner" for foreign money.

Why it matters: The personal venom — during Thursday's final presidential debate, in Nashville — was a reminder that even during a more normal debate, nothing this year is normal.

Dave Lawler, author of World
3 hours ago - World

Special report: Trump's hopes of nuclear deal with Putin come down to the wire

Illustration: Lazaro Gamio/Axios

A surprise offer from Vladimir Putin has the U.S. and Russia once again circling a potential pre-election nuclear deal.

The big picture: The last treaty constraining the U.S. and Russia, New START, is due to expire on Feb. 5, 2021, two weeks after the next U.S. presidential inauguration. For the first time since the height of the Cold War, the nuclear guardrails could come off.

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