Business NewsAustralia is set to unveil plans to force Facebook and Google to share advertising revenue but the tech giants have pushed back against the plansFacebook on Monday rejected calls from the Australian government and news companies that it shares advertising revenue with the media, suggesting it would rather cut news content from its platform. In an effort being closely watched around the world, Australia is set to unveil plans to force Facebook and Google to share advertising revenue they earn from news featured in their services. The initiative has been strongly pushed by Australia's two biggest media companies, Rupert Murdoch's News Corp and Nine Entertainment. Facebook and Google also say they provide millions of dollars to media companies through grant programmes and limited purchases of news content. But Facebook insisted Monday it was "not healthy" to expect two private companies to solve the challenges facing Australian media.

Source: Standard Digital June 15, 2020 05:26 UTC