iSelect and News Corp enter $4.5m digital marketing partnership
December 18, 2020 11:24
iSelect Limited has entered into an exclusive digital marketing services partnership with News Corp Australia.
The two-year agreement, announced to the ASX today, is worth a minimum of $4.5 million and will see News Corp will receive payment for lead generation, content creation and revenue share of converted sales.
iSelect CEO Warren Hebard
The payment terms of the deal are 50% via scrip (shares) up to a maximum of 5% of iSelect’s total issued share capital per annum, with the remaining 50% in cash.
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The share price will be calculated on the 90-day (prior period) VWAP, with scrip payments to be calculated quarterly.