I don't see a problem: No software is good enough to do it on its own (AFAIK); why wouldn't they improve the quality with human editors? Every other news source does it, AFAIK.

Will there be hearings about Fox News and whether they are biased?

I do have a concern: Facebook isn't a journalism organization, run by professonal journalists with their priorities, values and expertise. They could be very manipulative; many News Corp / Rupert Murdoch publications already do this.