Facebook Set to Finance Regional Australia Newspaper Fund

Facebook will provide money for an “innovation fund” for 170 regional Australian newspapers as a component of a planned licensing deal, the parties said on Friday, considering the move a demonstration of cooperation between the web-based media giant and neighborhood publishers.

The move carries a grassroots element to a series of deals announced by Facebook in Australia since the nation legislated to make it and Alphabet’s Google negotiate content payments to media outlets or hazard government discretion.

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Australian Broadcasting Corp

Since the law produced results in February, prevailing news providers like News Corp, Nine Entertainment, and the Australian Broadcasting Corp have signed deals or letters of intent with the Big Tech players.

The deal planned by Country Press Australia (CPA) and the tech giant would bring Facebook money closer to mastheads like The Bunyip, course 8,750, and Gympie Today, dissemination 4,000 since they are among the 170 outlets represented by it.

joint statement from CPA and Facebook

Terms of the deal including a time frame, the measure of money, and how it will be divided or spent were not disclosed in a joint statement from CPA and Facebook. The statement said the parties had signed a letter of intent to strike a deal as it were.

“This funding backing will help Country Press Australia’s members assemble their computerized businesses and reach new audiences,” said Facebook’s news partnership lead for Australia and New Zealand, Andrew Hunter.

The deal planned by Country Press Australia (CPA) and the tech giant would bring Facebook money closer to mastheads like The Bunyip, flow 8,750, and Gympie Today, course 4,000, since they are among the 170 outlets represented by it.

Terms of the deal including a time frame,

the measure of money, and how it will be divided or spent were not disclosed in a joint statement from CPA and Facebook. The statement said the parties had signed a letter of intent to strike a deal as it were.

“This funding backing will help Country Press Australia’s members assemble their computerized businesses and reach new audiences,” said Facebook’s news partnership lead for Australia and New Zealand, Andrew Hunter.

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