Seven West Media has signed a letter of intent to deliver news content to Facebook, the media company said in a statement today

The deal is subject to the signing of a long-term agreement between the two companies, which, according to Seven West Media, is expected to close within the next 60 days

The company said it would provide more details in the statement “after the agreement is concluded”

The move comes after Facebook last week banned Australian users from sharing or posting news links in response to the proposed news media negotiating code that would force tech companies to pay news for content

Facebook announced today that it will withdraw its block on Australian news sites after the government agreed to make changes to the code

Treasurer Josh Frydenberg had previously said he hoped media companies would “sit down at the table” with Facebook and sign contracts

Kerry Stokes, Chairman of Seven West Media, said in the statement released today, “Building this new partnership with Facebook is a significant step for our company and reflects the value of our original news content in our successful digital delivery in major cities and regions reflected and print properties “

He added, “Together, the two announcements are a strong recognition of the quality and credibility of our leading news brands and entertainment companies, and allow us to continue growing our digital platform”

Seven West Media chief executive and chief executive James Warburton said the two agreements represent “a significant step forward for the Australian news media and a clear recognition by all parties of the value and importance of original news content”

Facebook Australia and New Zealand CEO Will Easton said the social media giant has “always been committed to supporting journalism”

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