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NBC News' Chairman Andrew Lack isn't optimistic on Facebook.

"Facebook doesn't have value for publishers really," Lack told reporters during a press briefing on NBC News' digital initiatives on Wednesday. "I call them Fakebook."

"What's frustrating about Facebook is you can't have a relationship with them," Lack said, adding that NBC News has talked with the company for years about content creation, but he has become "decreasingly hopeful" that much will materialize.

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