Australia’s competition regulator has declared victory in a three-year battle to make Facebook and Google pay for news after the internet groups signed deals with publishers that could be worth about AU$200 million (US$155.33 million) a year, reported
Rod Sims, chair of the Australian Competition and Consumer Commission, told the Financial Times on Tuesday, June 1, that the country’s world-first news media bargaining code had forced big technology platforms to the negotiating table to agree deals with publishers.
“We are on track for deals all around. It’s been a big success,” Sims said in an interview. “We are just about there and the media companies are happy — and that’s the key point.” Sims made the comments after confirmation from Nine Entertainment that it had signed a multiyear content deal with Google and Facebook.
The company, owner of the 190-year-old Sydney Morning Herald, did not release commercial terms of the agreement but forecast that its publishing unit’s earnings would jump AU$30 – $40 million (US$23 – $31 million) in the 2022 financial year. Australia’s other big media groups, including News Corp, Seven West Media, and state broadcaster ABC, have either completed content deals with Facebook and Google or signed letters of intent to do so.
Dozens of smaller publishers have also struck agreements or are negotiating terms following passage of a law in February designed to make Big Tech pay for news.
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