New Zealand's NZME, Google to discuss news delivery terms amid fair payment push
24/03/2022 21:31
March 25 (Reuters) - New Zealand media firm NZME NZM.NZ
said on Friday it has signed a letter of intent with Google to
outline terms for news content delivery, as the country's
publishers take on digital platforms over fair payment for news
displayed on their sites.
NZME, which owns the New Zealand Herald, also said it was in
discussions with Facebook parent Meta Platforms FB.O over
various digital projects for next year.
New Zealand's news publishers association had sought
approval to collectively bargain with Meta Platforms and
Alphabet Inc GOOGL.O unit Google for fair payments, but NZME
chose to engage with the tech giants directly. urn:newsml:reuters.com:*:nL4N2SG35D
NZME will enter a 90-day period of negotiation with Google
to finalise key terms of the proposed supply of its news content
to Google's News Showcase and other news products, it said on
Friday.
The final deal was intended to be for a minimum of five
years.
The company's portfolio includes several regional
newspapers, as well as radio channels and online websites.
NZME also said it expects 2022 core earnings between NZ$67
million ($46.63 million) and NZ$72 million, if it finalises the
deal with Google at the end of the negotiation period.
($1 = 1.4368 New Zealand dollars)
(Reporting by Riya Sharma; Editing by Devika Syamnath)
((Riya.Sharma@thomsonreuters.com;))