Seven Signs Deal With Facebook Following News Backflip

Seven Signs Deal With Facebook Following News Backflip
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Seven West Media has agreed to a news content partnership with Facebook, after the social media platform agreed to make commercial deals with local publishers.

Facebook revealed on Tuesday it was “satisfied” with the changes to the News Media Bargaining Code, after previously withdrawing news in Australia in protest of the legislation.

And after last week announcing a $30 million a year deal with Google, Seven West Media revealed a similar agreement with Facebook had been made.

Seven West Media Chairman Kerry Stokes said: “The establishment of this new partnership with Facebook is a significant move for our business and reflects the value of our original news content across our successful metropolitan and regional broadcast, digital and print properties.

“On 15 February we announced a LOU for a partnership with Google, to provide news content to the Google Showcase product.

“Together, the two announcements are a strong recognition of the quality and credibility of our leading news brands and entertainment, and will enable us to continue to build our digital platform.

“These partnerships would not have been possible without the leadership and vision of Prime Minister Scott Morrison, the Chair of the Australian Competition and Consumer Commission, Rod Sims, Treasurer Josh Frydenberg and Communications Minister Paul Fletcher, and we thank them.”

Facebook Australia and New Zealand managing director Will Easton said: “We are pleased to confirm our investment through a Letter of Intent with our partners from Seven West Media. This agreement brings the premium news content Seven produces from its newsrooms across Australia to Facebook. We have always been committed to supporting journalism and our agreement today continues our work with the news community in Australia.”

The deal is subject to signing a long-form agreement. Financial details of the deal have not been shared.

 

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