Australia says law making Facebook and Google pay for news has worked

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SYDNEY - An Australian law giving the government power to make internet giants Facebook owner Meta Platforms and Alphabet Inc's Google negotiate content supply deals with media outlets has largely worked, a government report said. But the law, which took effect in March 2021 after talks with the big tech firms led to a brief shutdown of Facebook news feeds...

A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on Nov 2, 2021.SYDNEY - An Australian law giving the government power to make internet giants Facebook owner Meta Platforms and Alphabet Inc's Google negotiate content supply deals with media outlets has largely worked, a government report said.

Since the News Media Bargaining Code took effect, the tech firms had inked more than 30 deals with media outlets compensating them for content which generated clicks and advertising dollars, said the Treasury department report, published late Thursday. "While views on the success or otherwise of the Code will invariably differ, we consider it is reasonable to conclude that the Code has been a success to date."

"The review shows the Code has been successful balancing bargaining power between news media and digital platforms," said Assistant Treasurer Stephen Jones.

 

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