Australia will force Facebook and Alphabet Inc’s Google to pay local media outlets for news content in a world-first move
Both Facebook and Google say advertising revenue linked to news content is a small fraction of their overall revenue.
If the US-based platforms could not agree with the Australian media businesses on pricing after three months, arbitrators would be appointed to make a binding decision, the draft said. Google Australia and New Zealand managing director Mel Silva said the code discounts the significant value Google provided in free clicks on publishers' content.
"We are reviewing the government's proposal to understand the impact it will have on the industry, our services and our investment in the news ecosystem in Australia," said Will Easton, Facebook's local manager.
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