While Google will pay for news content that appears on its "Showcase" product, Facebook is expected to pay providers who appear on its "News" product starting later this year. “We are satisfied that the Australian government has agreed to a number of changes and guarantees that address our core concerns," said William Easton, managing director of Facebook Australia. Law passed finally: On Thursday, the Australian parliament passed the legislation that forces technology companies like Facebook and Alphabet Inc's Google to pay media companies for content. Facebook and Google now have an additional two months to reach further agreements that would stave off binding arbitration. Licensing agreements with Canadian media: Facebook is exploring potential licensing agreements in the coming year with Canadian media outlets and expanding its investment in local journalism initiatives, according to reports.

Source: Mint February 25, 2021 05:48 UTC