“The agreement with Facebook is a landmark in transforming the terms of trade for journalism, and will have a material and meaningful impact on our Australian news businesses,” News Corp Chief Executive

Robert Thomson

said in a statement. “This digital denouement has been more than a decade in the making.”

The company didn’t disclose the deal’s financial terms.

Australia has passed legislation that would effectively require companies like Facebook and

Alphabet Inc.’s

Google to pay publishers for content. Last month Facebook blacked out news in the country for five days amid a spat with the government over that proposal. Facebook reached a deal to restore news on its platform and got some changes to the legislation.

The latest News Corp deal also involves the news.com.au news site, metropolitan mastheads like The Daily Telegraph in New South Wales, Herald Sun in Victoria, The Courier-Mail in Queensland and regional and community publications, the company said.

Sky News Australia, meanwhile, reached a new agreement with Facebook that extends and “significantly builds” on an existing arrangement, the company said.

News Corp has reached similar news-licensing agreements with Google and

Apple Inc.

On Monday, Mr. Thomson credited the Australian government “for taking a principled stand for publishers, small and large, rural and urban, and for Australia.”

Write to Maria Armental at maria.armental@wsj.com