financetom
Business
financetom
/
Business
/
Australia says content laws already working after Nine-Google deal reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Australia says content laws already working after Nine-Google deal reports
Feb 17, 2021 12:40 AM

Australia on Wednesday said promised laws forcing tech giants to pay media outlets for content had already succeeded after reports that publisher and broadcaster Nine Entertainment Co Holdings Ltd agreed on a licensing deal with Google.

Share Market Live

NSE

The Alphabet Inc-owned company agreed to pay Nine more than A$30 million (USD 23.25 million) a year for its content, two of Nine’s newspapers reported, citing unidentified industry sources. The deal would be formally signed in the next two weeks, the newspapers said.

A Nine spokeswoman declined to comment to Reuters. A Google spokesman also declined to comment.

Nine would be the second major Australian media company to reach an agreement with Google just as the country’s parliament prepares to pass laws giving the government power to set Google’s content fees.

On Monday, Nine rival Seven West Media Ltd said it had reached a deal that local media reported would also involve the U.S. company paying it A$30 million a year.

”None of these deals would be happening if we didn’t have the legislation before the Parliament,” Australian Treasurer Josh Frydenberg told reporters. ”This legislation, this world-leading mandatory code, is bringing the parties to the table. We have held the line and held it strongly.”

The Australian federal government has said it still plans to put the laws – which effectively force Google and social media giant Facebook Inc to strike deals with media companies or have fees set for them – to a vote in the coming weeks.

Last year, seven smaller media companies, specialist websites and a regional newspaper, signed deals to have their content appear on Google’s News Showcase platform, but the country’s main metro outlets failed to reach agreements.

Several large domestic media players, including the local arm of Rupert Murdoch’s News Corp – which owns two-thirds of Australian newspapers – have yet to announce Google deals. A News Corp spokesman was not immediately available for comment on Wednesday.

Media outlets around the world are trying to find a way to compensate for a slump in advertising revenue, traditionally their main source of income, which has resulted in widespread closures.

In January, the Reuters news agency, a division of Thomson Reuters Corp, struck a deal with Google to be the first global news provider for Google’s News Showcase.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Terramed Acquires World-Renowned Palm Beach Equine Clinic’s Property in Wellington, Florida
Terramed Acquires World-Renowned Palm Beach Equine Clinic’s Property in Wellington, Florida
Mar 19, 2026
BALA CYNWYD, Pa.--(BUSINESS WIRE)-- Terramed Real Estate Solutions, a leading real estate group specializing in veterinary, ophthalmology, and fertility properties, has completed the $9.27 million acquisition of Palm Beach Equine Clinic in Wellington, Florida, one of the world's most prominent sport-horse veterinary hospitals. The three-building complex measures a combined 15,719 square feet and sits on a 1.4-acre lot approximately 10...
Nuvve Announces Third European BESS Project in Weeks, Crossing 150 MW of Combined Capacity Under OMNIA Global Partnership
Nuvve Announces Third European BESS Project in Weeks, Crossing 150 MW of Combined Capacity Under OMNIA Global Partnership
Mar 19, 2026
60 MW Romania project brings Nuvve’s announced European BESS portfolio to more than 150 MW across three countries in under two weeks; annual fee revenue potential ranges from $250,000 to $500,000 per MW, with a right of first refusal to acquire each asset SAN DIEGO--(BUSINESS WIRE)-- Nuvve Holding Corp. ( NVVE ) , a global leader in vehicle-to-grid (V2G) technology...
Chicago Atlantic Agents a Senior Secured Facility to Support the Acquisition of Lionel Holdings, LLC by Round 2 Holdings, LLC
Chicago Atlantic Agents a Senior Secured Facility to Support the Acquisition of Lionel Holdings, LLC by Round 2 Holdings, LLC
Mar 19, 2026
CHICAGO--(BUSINESS WIRE)-- Chicago Atlantic announced that it acted as administrative agent in support of the acquisition of Lionel Holdings, LLC (“Lionel”), a premier designer and manufacturer of model trains and hobby products by Praesidian Capital and its portfolio company, Round 2 Holdings, LLC (“Round 2”), a leading designer, developer, and marketer of model kits, die-cast collectibles, and hobby products. Following...
Southern Glazer’s Wine & Spirits to Acquire Clare Rose Inc.
Southern Glazer’s Wine & Spirits to Acquire Clare Rose Inc.
Mar 19, 2026
MIAMI & DALLAS--(BUSINESS WIRE)-- Southern Glazer's Wine & Spirits (Southern Glazer's)—the world’s preeminent distributor of beverage alcohol—today announced that it has reached an agreement to acquire substantially all the assets of Clare Rose Inc. (Clare Rose), the leading beverage alcohol distributor in Long Island, New York. Expected to close during the first half of 2026, the acquisition strengthens Southern Glazer’s...
Copyright 2023-2026 - www.financetom.com All Rights Reserved