News Corp and Sky News reach pay deal with Facebook, weeks after media bargaining code became law

News Corp and Facebook have struck new pay deals for news in Australia, three weeks after the federal government passed laws that could force digital giants to help cover the costs of journalism.

News Corp said it had reached a multi-year agreement with Facebook that covered its major Australian mastheads, including The Australian, Daily Telegraph and Herald Sun, as well as regional publications.

The pay deal follows a similar…