Regional newsrooms will be freed up to chase local stories after independent newswire Australian Associated Press received a $15 million federal budget boost.
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AAP will receive the first of two $7.5 million payments before the end of this financial year, with the other half set to flow in 2021/22.
The national newswire provides content to hundreds of newspapers, websites, TV channels and radio stations with many based in regional Australia.
Communications Minister Paul Fletcher said the money would allow AAP to provide regional, national and international news to outlets across the nation.
"This allows regional media businesses to concentrate on covering local news stories that are important to their communities," he said on Tuesday.
The 86-year-old newswire almost died last year after its major shareholders decided to pull the pin on the trusted news source.
But philanthropists stepped in to save AAP which still suffered massive job losses and an ongoing fight for financial security.
AAP chief executive Emma Cowdroy said the grant would help the organisation on a path to sustainability after being excluded from the media bargaining code.
"Most people only know AAP as a small acronym beneath a photo or beside an article, but without the newswire there would be a significant void in Australia's news offering," she said.
"The AAP newswire is an essential part of our democratic infrastructure. Supporting the national newswire means supporting the industry as a whole."
The funding brings the now not-for-profit AAP into line with newswires around the world, with the bulk relying on government support.
AAP chair Jonty Low said the government was supporting a key pillar of Australia's media diversity.
"On behalf of all of AAP's staff, the hundreds of news outlets that rely on our stories and images and the millions of people who consume it each week, I would like to warmly thank the Prime Minister Scott Morrison and Communications Minister Paul Fletcher."
The government will also spend $8 million over two years on community radio with 450 broadcasters set to benefit.
More than $4 million has been allocating to implementing the news media bargaining code.
Australian Associated Press
