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 Aus$10 million (RM30.59mil) or 10% of local revenue.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!