Google and Facebook are 'very close' to deals with major Australian media to pay for news, a top government official said Monday, as the tech giants scramble to avoid landmark regulation. Australian Treasurer Josh Frydenberg said talks with Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai had made 'great progress' in resolving a standoff being closely watched around the world. Google and Facebook are 'very close' to deals with major Australian media to pay for news, a top government official said MondayThe companies have threatened to partially withdraw services from the country if the rules become law, sparking a war of words with Canberra. Australian Treasurer Josh Frydenberg said talks with Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai had made 'great progress'The Sydney Morning Herald reported the first major deal with a large Australian news organisation was worth more than Aus$30million (£16.5million) a year. Frydenberg's comments suggest major Australian media organisations, such as Rupert Murdoch's News Corp and Nine Entertainment, could be close to reaching similar deals.

Source: Daily Mail February 15, 2021 12:21 UTC