Analysis and visualization of an information network can be facilitated better using an appropriate embedding of the network. Network embedding learns a compact low-dimensional vector representation for each node of the network, and uses this lower dimensional representation for different network analysis tasks. Only the structure of the network is considered by a majority of the current embedding algorithms. However, some content is associated with each node, in most of the practical applications, which can help to understand the underlying semantics of the network. It is not straightforward to integrate the content of each node in the current state-of-the-art network embedding methods. In this paper, we propose a nonnegative matrix factorization based optimization framework, namely FSCNMF which considers both the network structure and the content of the nodes while learning a lower dimensional representation of each node in the network. Our approach systematically regularizes structure based on content and vice versa to exploit the consistency between the structure and content to the best possible extent. We further extend the basic FSCNMF to an advanced method, namely FSCNMF++ to capture the higher order proximities in the network. We conduct experiments on real world information networks for different types of machine learning applications such as node clustering, visualization, and multi-class classification. The results show that our method can represent the network significantly better than the state-of-the-art algorithms and improve the performance across all the applications that we consider.