Facebook reaches agreement with Rupert Murdoch's News Corp to pay for content

News Corp Australia has reached an agreement with Facebook for the tech giant to pay for news content on its social media platform.

On Tuesday, the major publisher struck a three-year deal with Facebook to pay for journalism across the company's mastheads, including news.com.au, The Australian, The Daily Telegraph, the Herald Sun, The Courier-Mail and its regional and community publications.

It follows similar agreements with both Google and Apple to pay for news content.

Facebook wiped news content from its platform in Australia last month as the government legislated a world-first media bargaining code to make digital platforms pay for journalism.

News Corp Australia chief executive Michael Miller said the deal ensured Australians were able to access quality journalism online.

"The events of the past month have reinforced to us and to Facebook the value our news, storytelling and brands bring to the Facebook platform," Miller said.

"This is a welcome agreement for our company, for the quality journalism we invest in, and the many Australian readers we serve."

Sky News Australia has also reached a separate deal with Facebook for its news content on the platform.

The Australian Competition and Consumer Commission was integral in pushing for the news media bargaining code.

"I'd also again pay tribute to the world-leading work of Rod Sims and his team at the ACCC in creating the code of conduct with the platforms, and the bipartisan political support led by Prime Minister Scott Morrison and Treasurer Josh Frydenberg," Miller said.

"Their efforts serve as a template for how important but difficult policy reform can work to help build a stronger Australia."

News Corp is the first major Australian publisher to strike a deal with Facebook.