SYDNEY — Australia’s parliament passed landmark legislation Thursday requiring global digital giants to pay for local news content, in a move closely watched around the world.
The law passed easily after a last-gasp deal that watered down binding rules Facebook and Google had fiercely opposed in return for the tech giants agreeing to pay local media companies.
The new law paves the way for Google and Facebook to invest tens of millions of dollars in local content deals, and could prove a model for resolving the firms’ tussles with regulators worldwide.
Google will now pay for news content that appears on its “Showcase” product and Facebook is expected to pay providers who appear on its “News” product, which is to be rolled out in Australia later this year.
TECHNOLOGY
TECHNOLOGY
TECHNOLOGY
Regulators had accused the companies, who dominate online advertising, of draining cash away from traditional news organizations while using their content for free.
Big tech firms had fiercely opposed the legislation from the outset, fearing it would threaten their business models.
