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$56.39 -0.8  -1.3%

Last Trade - 18/06/21

Sector
Financials
Size
Large Cap
Market Cap £23.76bn
Enterprise Value £65.53bn
Revenue £7.31bn
Position in Universe 390th / 6927

Facebook, German publisher Axel Springer strike global cooperation deal

Mon 17th May, 2021 2:52pm
BERLIN, May 17 (Reuters) - Axel Springer and Facebook  FB.O 
said on Monday that they had agreed on a global cooperation deal
under which content from the German publisher will be featured
on the social network and its Facebook News product.
    The agreement reels in the last big holdout in Germany after
Facebook signed up a string of publishers in March to provide
content for its local news product on terms the publisher of the
Bild tabloid dismissed at the time as derisory.  urn:newsml:reuters.com:*:nL2N2KZ16D
    Mathias Doepfner, CEO of privately-held Axel Springer,
described the cooperation deal as "a strategic milestone for us
as a publisher and for the industry as a whole".
    "The relationship between content providers and platforms
has now become fairer and more predictable for both sides,"
added Doepfner, who took Springer private in 2019 with the
backing of private equity investor KKR  KKR.N . 
    Facebook's Chief Operating Officer Sheryl Sandberg said: "In
creating Facebook News and partnering with Axel Springer
globally, we’ll be able to give people an even wider choice of
reliable journalistic content across a number of news outlets."
    Content from Springer's German titles Bild, Welt, Business
Insider and Computer Bild will be distributed in Facebook News
at its German launch, with car magazine Auto Bild to follow soon
after. 
    In the United States, Axel Springer will deepen the existing
cooperation between Business Insider and Facebook, while the
millennial-focused financial news site may also include other
national editions in Facebook News.
    The agreement with Facebook includes registration-free
access to a limited amount of paid content from Bild and Welt.
    Springer's news aggregation unit Upday, which already
curates Facebook News in Britain, will expand this role to
include Germany.
    The deal follows a turbulent few months that saw publishers
around the world baulk at the terms offered by Facebook for news
distribution, leading the social network to suspend operations
in Australia until a compromise could be hammered out. 
    In objecting to the deal struck in March by other German
publishers, Springer had said that it preferred to rely on
European copyright rules that entitle publishers to receive an
appropriate share of remuneration.
    In Monday's statement, Springer and Facebook said their deal
excluded future ancillary copyright for press publishers.

 (Reporting by Douglas Busvine; editing by Emelia
Sithole-Matarise)
 ((douglas.busvine@tr.com; +49 30 220 133 562;))
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