Google and Facebook to be forced to share revenue with media in Australia under draft code

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Consumer watchdog unveils ‘hundreds of millions’ in potential fines under code drawn up after talks stalled between tech and news companies

Google, Facebook and other digital platforms could be forced to pay hundreds of millions of dollars in fines if they fail to comply with a news media bargaining code released by Australia’s competition regulator on Friday.

The Australian Competition and Consumer Commission was asked to develop the mandatory code in April by the treasurer, Josh Frydenberg, after negotiations between the digital platforms, the ACCC and media companies stalled, and media companies experienced a sharp fall in ad revenue due to Covid-19.

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from The Guardian https://ift.tt/2XdvIy7

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