Seven West Media has signed a Letter of Intent to provide news content to Facebook, following amendments to the media code.
The LOI is subject to signing a long-form agreement between the two companies, expected to be executed over the following 60 days.
Seven West Media Chairman Kerry Stokes AC said: “The establishment of this new partnership with Facebook is a significant move for our business and reflects the value of our original news content across our successful metropolitan and regional broadcast, digital and print properties.
“On 15 February we announced a LOU for a partnership with Google, to provide news content to the Google Showcase product.
“Together, the two announcements are a strong recognition of the quality and credibility of our leading news brands and entertainment, and will enable us to continue to build our digital platform,” he said.
“These partnerships would not have been possible without the leadership and vision of Prime Minister Scott Morrison, the Chair of the Australian Competition and Consumer Commission, Rod Sims, Treasurer Josh Frydenberg and Communications Minister Paul Fletcher, and we thank them.”
Meanwhile a Nine spokesperson: “We are pleased the Government have found a compromise on the Digital Code legislation to move Facebook back into the negotiations with Australian media organisations. We look forward to constructive discussions resuming.”