Australia's parliament passed landmark legislation Thursday requiring global digital giants to pay for local news content, in a move closely watched around the world. The law passed easily after a last-gasp deal that watered-down binding rules Facebook and Google had fiercely opposed in return for the tech giants agreeing to pay local media companies. Big tech firms had fiercely opposed the legislation from the outset, fearing it would threaten their business models. Google has already brokered deals worth millions of dollars with local media companies, including the two largest: Rupert Murdoch's News Corp and Nine Entertainment. Tech insiders see the legislation as driven, in particular, by Rupert Murdoch's News Corp, which dominates the local media landscape and has close ties with Australia's conservative government.

Source: Mint February 25, 2021 00:41 UTC