Media company NZME has cut a final deal with technology heavyweight Google about supplying news.
Photo: RNZ / 123RF
The pair have agreed on the terms for the supply of content to Google's News Showcase, which they started in March.
Chief executive Michael Boggs said the deal would support its digital development and journalism in the country.
"Not only will this new partnership with Google help further bolster digital growth across our business and increase our audience reach across our platforms, it will also increase digital revenue growth and enhance our digital subscriptions business."
NZME publishes a range of papers including the New Zealand Herald, it also owns Newstalk ZB and other radio networks, and last year bought the specialist online business publisher, BusinessDesk.
No financial details of the agreement were disclosed, but the company reaffirmed its March forecast of earnings for the year between $67 million - $72m.
Earlier this week NZME put its $30m share buyback programme on hold and opted to pay a 5 cents a share special dividend as a quicker way to return some spare capital to shareholders.
Google New Zealand country director Caroline Rainsford said an agreement would show its backing for digital transformation and journalism.
"These agreements build on years of partnership between NZME and Google and we look forward to engaging on initiatives that further the digital transformation of NZME's business and promote original, trusted journalism across NZME's digital titles."
NZME broke ranks with other local media outlets on negotiating an industry collective on content supply and payment agreement with the big tech companies.
