Nine Entertainment Establishes News Content Supply Deal with Google, Facebook

Australia’s Nine Entertainment Co. Holdings Ltd NNMTF entered into multi-year content-supply deals with Alphabet Inc’s Google GOOG GOOGL and Facebook Inc FB for the Australian Financial Review, Sydney Morning Herald newspapers, and the Nine free-to-air channel to provide articles and clips for Google’s News Showcase platform for five years, and to a similar Facebook product for three years, Reuters reports.
The deal could be worth A$200 million annually, the Financial Times reported.
Nine’s rivals Seven West Media Ltd WANHY and News Corp NWSA, have inked similar deals in recent months.
Facebook planned to invest $1 billion globally over three years to support journalism.
Google launched the News Showcase platform following Australia’s new content law that mandated the social media companies to pay for the use of the country’s content.
Price action: FB shares traded higher by 0.33% at $329.8 in the premarket session on the last check Tuesday.