New Zealand's NZME and Google to discuss terms of news delivery in the Fair Pay campaign

New Zealand’s NZME and Google to discuss terms of news delivery in the Fair Pay campaign

The facade of Google’s office is seen in New York, New York, US, February 10, 2022. REUTERS / Parrish Dave

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March 25 (Reuters) – New Zealand media company NZME (NZM.NZ) It announced Friday that it has signed a letter of intent with Google to set terms for the delivery of news content, as publishers across the country crack down on digital platforms for fair payment for news published on their sites.

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

The New Zealand News Publishers Association has requested permission to collectively bargain with Meta Platforms and Alphabet Inc. (GOOGL.O) Google’s fair payments unit, but NZME has chosen to deal directly with the tech giants.

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It was announced Friday that NZME will enter a 90-day period of negotiations with Google to finalize key terms for the proposed provision of its news content to the Google News Storefront and other news products.

The final agreement was to be for a period of no less than five years.

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

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

(1 dollar = 1.4368 New Zealand dollars)

(Riya Sharma reports). Edited by Devika Syamnath

Our criteria: Thomson Reuters Trust Principles.

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