Nine Entertainment says it is concerned that millions of dollars in revenues flowing from its deals with Facebook and Google could be at risk given the technology companies’ reluctance to re-sign agreements with Australian publishers and broadcasters.

“Nine is concerned that its existing contracts will either not be renewed once the existing term expires, or that there will be conduct which has the purpose or effect of significantly devaluing the news content prior to a commercial negotiation taking place,” its submission to a one-year review of the federal government’s news media bargaining code reads.