Media co NZME rises on possibly bargaining content deal with Google, Facebook directly
26/11/2021 01:08
** Shares of NZME Ltd NZM.NZ rise as much as 3.1% to
NZ$1.330, their biggest one-day pct jump since Nov. 17
** The New Zealand Herald owner says it may opt to engage
directly with Google and Facebook for fair payment for its news
content published on their platforms urn:newsml:reuters.com:*:nL4N2SG35D
** This comes after the News Publishers' Association (NPA),
which co is a member of, sought approval http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZM/383626/360399.pdf
from the commerce commission for collective bargaining with the
tech giants
** Co adds that participation in the arrangement proposed by
the NPA is voluntary and that it may continue to engage directly
with the Google and Facebook while the regulator reviews the
application
** Stock set for biggest weekly decline of 4.4% since Aug.
20
** Stock has risen 84.3% this year as of last close
(Reporting by Yamini C S)
((Yamini.CS@thomsonreuters.com;))