Sydney Reuters —
Australia plans new rules to “create a financial incentive” for big tech firms to pay Australian media companies for news content on their platforms, Assistant Treasurer and Minister for Financial Services Stephen Jones announced on Thursday.
The move, described as a “news bargaining initiative,” piles pressure on global tech giants like Facebook-owner Meta Platforms and Google to pay publishers for content or face the risk of paying millions to continue operations in Australia.
“The News Bargaining Initiative will … will create a financial incentive for agreement-making between digital platforms and news media
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