News Corp has struck a three-year deal to provide news to Facebook in Australia, ending a battle between two billionaire-owned empires being watched worldwide as a possible template for regulating Big Tech, reported The Financial Times.
The Rupert Murdoch-controlled publisher announced on Monday, March 15, the agreement would allow it to “provide access to trusted news and information to millions of Facebook users” in the country through the social media network’s dedicated news tab. Financial details were not disclosed.
The deal includes content from The Australian newspaper, the Sydney-based Daily Telegraph, and the Melbourne-based Herald Sun as well as regional publications, News Corp said in a statement. The pay television channel Sky News Australia has reached a parallel deal, it added.
The agreements come after Australia last month passed a controversial law designed to force major technology platforms such as Facebook and Google to pay publishers for news content.
Online platforms have grabbed the vast majority of digital advertising, sapping traditional publishers of resources to cover local and regional news. Lawmakers in the US, UK, and Canada have suggested taking similar steps to shift commercial power towards struggling news outlets.