The Australian government said Monday, December 4, that it would open an inquiry into Facebook and Google and their impact on the media industries.
The move was announced by the Australian Consumer & Competition Commission (ACCC). It follows a revamp of media laws in September this year.
The ACCC said that it would look at “the impact digital search engines, social media platforms and other digital content aggregation platforms are having on competition in media and advertising services markets.” A preliminary report will be published early December 2018, with a final report due early June 2019.
“The ACCC will look closely at longer-term trends and the effect of technological change on competition in media and advertising,” Rod Sims, the ACCC chairman, said. “We will also consider the impact of information asymmetry between digital platform providers and advertisers and consumers.”
The probe comes as several traditional Australian media companies, especially in the print and television sectors, have witnessed declines in advertising revenue. Hemorrhaging cash, the free-to-air Ten Network recently went into administration and was subsequently bought at a distress price by CBS.
Full Content: BBC News
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