According to reports, New Zealand media company NZME said on Friday that it has signed a letter of intent with Google to set out the terms of news content push. New Zealand publishers are adopting digital platforms and paying fairly for content displayed on their sites.
NZME, which owns the New Zealand Herald, also said it was in discussions with Facebook’s parent company Meta about a number of digital projects for next year.
The New Zealand Press Publishers Association had sought approval to collectively negotiate fair payments with Meta and Alphabet subsidiary Google, but NZME opted to approach the tech giants directly.
NZME said on Friday it would negotiate 90 days with Google to finalize key terms for delivering news content to Google’s News Showcase and other news products. The definitive agreement was originally set to last for at least five years. The company owns several regional newspapers, radio channels and online websites.
NZME also said it expects 2022 core profit to be between NZ$67 million ($46.63 million) and NZ$72 million if it reaches a deal with Google at the end of the negotiation period.