Facebook, Google Told They Must Pay Australia Media For News
- Australian government, regulator issue new code of conduct
- Breaches of code will carry penalites of up to A$10 million
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Australia’s government has ordered Facebook Inc. and Alphabet Inc.’s Google to share revenue generated from news articles, adding to growing global regulatory and political pushback against the digital giants.
The two companies will have to negotiate with traditional media on remuneration in good faith, Treasurer Josh Frydenberg said Friday. If no agreement is reached, there will be a binding arbitration process and penalties for breaching the code of up to A$10 million ($7 million) or 10% of local revenue.