News Corp reaches three-year deal with Facebook in Australia By Reuters
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© Reuters. FILE PHOTO: A 3D printed Facebook logo is seen in front of displayed Australia’s flag in this illustration photo
(Reuters) – News Corp (NASDAQ:) said on Monday it had reached a three-year agreement to provide Facebook Inc (NASDAQ:) users access to news in Australia.
Last month, Australia’s parliament passed a law that requires Alphabet (NASDAQ:) Inc’s Google and Facebook Inc to pay media companies for content on their platforms, after robust negotiations in which Facebook blocked all news content in the 13th-largest economy.
The agreement announced on Monday involves News Corp’s The Australian national newspaper, and metropolitan papers such as The Daily Telegraph in New South Wales. Sky News Australia has also reached a new agreement with Facebook, News Corp said.
The three-year deal follows an agreement reached in October, 2019 in which News Corp publications in the United States receive payments in exchange for access to additional stories it would provide for Facebook News.
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