Downloaded from: justpaste.it/293qq
Australia's Seven West Media signs Google, Facebook deals after law feud Australian television and newspaper firm Seven West Media Ltd signed multi-year content deals with Facebook Inc and Google as tough new media laws enabled the industry to secure new revenue sources
SYDNEY (Reuters) - Australian television and newspaper firm Seven West Media Ltd signed multi-year content deals with Facebook Inc and Google as tough new media laws enabled the industry to secure new revenue sources and adapt to the internet age. The top-rating free-to-air broadcaster and publisher of Perth city's main metro daily said on Monday it would supply content for the Alphabet Inc unit's News Showcase platform for five years and to a similar Facebook product for three. Terms of the deals were not disclosed.
The arrangements mean the U.S. "Big Tech" platforms are now committed to paying two of Australia's three largest traditional news outlets for content, marking an about turn just two months after they had vowed to quit the country over laws forcing them to pay for the links that drive traffic to their websites. "These partnerships have been made possible by the introduction of the Media Bargaining Code," said Seven CEO James Warburton in a statement, referring to the law which gives the government power to intervene if domestic media companies can't reach agreement with a large internet provider...Read More