WASHINGTON, July 24 (Reuters) - Facebook Inc confirmed on Wednesday it will pay $5 billion to resolve a Federal Trade Commission investigation of its privacy practices and said it was ending access to friend data by Microsoft Corp and Sony Corp as a first step under the settlement.
Facebook said the data was related to using the social media site on an earlier generation PlayStation or to sync friends’ contact information with another service. "This was our mistake, and we are correcting it," the company said.
Facebook said the FTC settlement will require a "fundamental shift in way we approach our work." (Reporting by David Shepardson Editing by Bill Trott)