Australia has been making new laws for tech companies like Google and Facebook to pay publishers for news. While the policy has not been finalized yet, it was said that the government will make few more changes in the draft before it could be passed.
Why there’s a need for revisions on the proposed media law
The amendment has something to do with how the publishers should be paid. As per ABC News, Australia wants Google, Facebook, and others to pay publishers in lump sums instead of per click on the news article.
The modified version is set to be presented to the Parliament on Wednesday, Feb. 17. According to federal treasurer Josh Frydenberg and communications minister Paul Fletcher, the main aim for the revision was to “improve the workability of the code while retaining its overall effect.”
Furthermore, the modifications were described by the officials as “clarifications and technical amendments.” This was made after the Australian ministers had a meeting with Facebook’s chief Mark Zuckerberg and Alphabet’s CEO Sundar Pichai last weekend.
In any case, the Australian government is hoping that the News Media Bargaining Code will be turned into a new bill before the current session of Parliament concludes on Feb. 25. The opposition labor party was also said to have agreed to support the bill to ensure that it will be passed through the senate.
Google partners with Seven West Media
Australian officials want Google, Facebook, and other tech companies to pay the local publishers for the news that was featured on the platforms. Both Zuckerberg and Pichai criticized the bill when it was first revealed, and they say it is not workable.
Google and Facebook even threaten to withdraw their services in the country if the officials push the new media law. However, the Australians remained firm, and Prime Minister Scott Morrison said that they couldn’t be threatened and suggested that they could tap Microsoft for its Bing search engine if Google really pulls out.
In a new development, as the talks between the executives continue, Google was able to strike a deal with Australia’s news network Seven West Media. The Guardian reported that both camps signed a multimillion-dollar deal under Google's News Showcase. Meanwhile, with the successful negotiation, Seven becomes the first major Australian media company to accept the terms of the American tech giant regarding the news payments.


SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist
DOJ Opens Investigation Into NYC Coffee Shop Over Anti-Goldman Social Media Post
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence
Nissan Halts Electric Qashqai Development Amid EV Market Challenges
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates
Ryan Cohen Rejects GameStop Pay Package, Prepares New eBay Acquisition Plan
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 



