Meta Platforms has signed a multiyear artificial intelligence content licensing deal with News Corp. that will pay the Wall Street Journal owner up to $50 million a year, reports Alexandra Bruell of The Journal.
Bruell reports, “The deal will run for at least three years and allow Meta to use the media company’s content from the U.S. and the U.K., according to people familiar with the matter. They said the deal allows Meta to retrieve new information for users of its artificial-intelligence products and to train on other content, such as story archives.
“The size of the Meta deal reflects the increasing value technology companies are placing on the news content that has helped train their AI models and from which they pull to provide users with real-time information about current events via chatbots and other tools.
“News Corp Chief Executive Robert Thomson teased the deal Monday in a presentation at a Morgan Stanley conference. ‘We have one very public horizontal deal,’ he said, adding that the company is at ‘an advanced stage’ in other negotiations and ‘you won’t have too long to wait’ for additional details.”
Read more here.
