Photo: ReutersSydney: Tech giant Facebook has opposed calls by Australian media companies for digital platforms to be regulated, amid an inquiry into their impact on competition in news and advertising markets. Australian media groups, like their peers worldwide, are losing circulation and advertising revenues to digital competitors. Australian media tycoon Kerry Stokes, the head of major commercial broadcaster Seven, on Monday urged Canberra to take “serious action” against the two online titans. Facebook said in its submission to the inquiry on Wednesday, sent to AFP Monday, that rapid technological changes such as media digitalisation “makes them a challenging subject for regulatory intervention”. But they do not mean the death of journalism,” Google Australia managing director Jason Pellegrino said in a statement.

Source: Mint April 23, 2018 09:22 UTC