(Reuters) – Nine Entertainment Co Holdings Ltd said on Tuesday it had signed multi-year content-supply deals with Google and Facebook under Australia’s news media bargaining code.
The agreement, terms of which were not disclosed, comes after rival Seven West Media Ltd and News Corp signed similar deals following the enactment of tough laws to make U.S. tech giants pay for displaying news on their platforms.
The multi-media firm said it would supply content for Google’s News Showcase platform for five years and to a similar Facebook product for three.
Google would also expand its marketing ventures across Nine’s platforms, the publisher of the Australian Financial Review, The Age and The Sydney Morning Herald newspapers added.
After considering these new deals and ongoing subscription revenue for Nine’s mastheads, the Sydney-based company said it expected growth of A$30 million to A$40 million ($23.2 million to $31 million) in its publishing unit’s fiscal 2022 core earnings.
($1 = 1.2917 Australian dollars)
(Reporting by Anushka Trivedi in Bengaluru; Editing by Christian Schmollinger and Stephen Coates)
