News: Murdoch’s News Corp reaches three-year deal with Facebook in Australia.
(Reuters) – News Corp has signed a three-year agreement with Facebook Inc in Australia, the Rupert Murdoch-controlled media company said Monday, declaring victory in a battle to get Big to compensate news organizations Tech.
Last month, the Australian Parliament passed a law mandating Google and Google from Alphabet Inc. Facebook Inc to pay media companies for content on their platforms after solid negotiations in which Facebook blocked all news content in the 13th largest economy.
The Australian government’s move has attracted worldwide attention as countries like Canada and the UK consider similar steps to protect local news media.
“The agreement with Facebook is a milestone in reshaping the way journalism trades and will have a material and significant impact on our Australian news business, ”said Robert Thomson, Chief Executive Officer of News Corp.
“This digital resolution has been in the works for more than a decade.”
News Corp signed a deal with Google in February to develop a subscription platform, ad revenue sharing, and develop video journalism from YouTube.
The Facebook The deal, announced on Monday, affects the Australian daily newspaper The Australian as well as newspapers such as The Daily Telegraph in New South Wales. Sky News Australia has also reached a new agreement Facebook, Said News Corp.
The deal, the financial details of which were not disclosed, extends an agreement reached in October 2019 in which Facebook paid News Corp’s US publications for access to additional stories Facebook News.
Reporting from Uday Sampath in Bengaluru; Adaptation of Shinjini Ganguli
Original Source © Reuters