SYDNEY: Australian television and newspaper firm Seven West Media signed multi-year content deals with Facebook 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 that it would supply content for the Alphabet unit's News Showcase platform for five years and to a similar Facebook product for three. Terms of the deals were not disclosed.
"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 an agreement with a large Internet provider.Representatives of Facebook and Google declined to comment beyond the confirmation of Seven's statement.
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