In a major development, the Australian parliament on Thursday passed a news media and digital platforms mandatory bargaining code that will make it compulsory for Alphabet Inc's Google and Facebook Inc to pay media companies for content. Other countries have introduced legislation forcing major technology companies to negotiate with media companies for licensing fees for links that draw traffic, and advertising revenue, to their platforms. The new code makes Australia the first country where a government arbitrator will set the rates tech giants have to pay if negotiations with media companies fail. Frydenberg and Fletcher said the government was pleased to see "progress by both Google and more recently Facebook" in reaching commercial arrangements with Australian news media. Facebook had cut off news in Australia last week amid tense negotiations with the government.

Source: dna February 25, 2021 01:48 UTC