this post was submitted on 02 Mar 2024
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@pendulum_ @Zagorath Clearly you didn't read the article.
Rupert Murdoch's News Corp wanted a law that says Facebook and Google have to pay News Corp for the privilege of allowing links to News Corp websites.
So Google has to pay News Corp for the links to News Corp in Google search results.
So Facebook has to pay News Corp for the links to News Corp sites that appear on Facebook.
The previous Australian federal government, under the previous Prime Minister Scott Morrison, gave him that law in 2021.
Google and Facebook struck deals to pay News Corp and other Australian media companies.
Facebook says it won't renew those agreements.
Yes, it is a stupid law. News Corp and other media companies profit from the traffic they get from Google and Facebook.
Look, here's the relevant part of the article right here:
"The Australian government wanted local publishers to benefit when links to their news content appeared on sites like Facebook and Google.
"It argued that there was significant advertising revenue being generated from this "premium content" and media organisations were missing out on their cut.
"So in 2021, the Morrison government introduced the News Media Bargaining Code, which aimed to address "bargaining power imbalances" by requiring tech giants to pay for displaying news on their platforms.
"Under the code, the government can "designate" digital platforms like Facebook and Google and force them into mediation to set terms for a revenue-sharing deal.
...
"Instead, Meta and Google struck a flurry of independent deals with news companies, all of which are due to expire in the next few months.
"The deals, with organisations including the ABC, Nine and News Corp, have brought around $200 million to the sector, according to the government.
"Now Meta says it's not renewing the agreements because news isn't a priority for Facebook users and it wants to invest its money elsewhere."