A few years ago, Australia passed a law that requires platform giants like Meta, which owns Facebook, and Google, which owns YouTube, to work with news publishers to pay for resharing media. Big Tech had to make deals with local news sites because of the News Media Bargaining Code. But Meta has stopped advertising news around the world on its platforms, and in March, it shocked Australian publishers by telling them that deals worth about $70 million would not be renewed.
After Meta’s shocking move a few months ago, the Australian government is getting ready to respond. According to the Financial Times, the government will bring a law change that will make social media and search engines pay for news if they make more than $250 million a year in local sales. Any payments made freely to publishers would be canceled out by the news tax.
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This makes it clear that the goal of the measure, which will be discussed by the public next year, is to get Big Tech back to the media negotiating table.
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