Facebook, News Corp reach deal on news in Australia

News Corp said Monday it has reached a deal to let Facebook Inc. feature news in Australia from some of the media company’s key properties, including The Australian national newspaper.

The three-year deal follows an agreement reached in October 2019 involving News Corp publications in the U.S., including The Wall Street Journal and other Dow Jones media properties.

“The agreement with Facebook is a landmark in transforming the terms of trade for journalism, and will have a material and meaningful impact on our Australian news businesses,” News Corp
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Chief Executive Robert Thomson said in a statement. “This digital denouement has been more than a decade in the making.”

The company didn’t disclose the deal’s financial terms. News Corp is the parent company of MarketWatch.

Australia has passed legislation that would effectively require companies like Facebook
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and Alphabet Inc.’s
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Google to pay publishers for content. Last month Facebook blacked out news in the country for five days amid a spat with the government over that proposal. Facebook reached a deal to restore news on its platform and got some changes to the legislation.

An expanded version of this report appears on WSJ.com.

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