New Zealand NZME and Google to discuss information delivery terms in fair payment context

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The facade of a Google office is seen in New York, New York, U.S., February 10, 2022. REUTERS/Paresh Dave

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March 25 (Reuters) – New Zealand media company NZME (NZM.NZ) said on Friday it had signed a letter of intent with Google to set out terms for the distribution of news content, as the country’s publishers struggle to attack digital platforms for fair payment for posted news. on their sites.

NZME, owner of the New Zealand Herald, also said it was in discussions with Facebook parent company Meta Platforms (FB.O) on various digital projects for the next year.

The New Zealand News Publishers Association had sought permission to bargain collectively with Google’s Meta Platforms and Alphabet Inc (GOOGL.O) unit for fair payments, but NZME opted to engage directly with the tech giants.

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NZME will enter a 90-day negotiation period with Google to finalize key terms for the proposed supply of its news content to Google News Showcase and other news products, it announced on Friday.

The final agreement was to be for a minimum of five years.

The company’s portfolio includes several regional newspapers, as well as radio stations and online websites.

NZME also said it expects 2022 base revenue of between NZ$67 million ($46.63 million) and NZ$72 million, if it finalizes the deal with Google at the end of the trading period.

($1 = 1.4368 New Zealand dollars)

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Reporting by Riya Sharma; Editing by Devika Syamnath

Our standards: The Thomson Reuters Trust Principles.

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