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  • MoneyWeek

    Big Tech humbled Down Under

    Feb 26, 2021 3 minutes

    What’s the background?

    ollowing a near three-year inquiry by Australia’s competition authority, in July its government published a new draft law that aims to redress the power imbalance between the US digital media giants and traditional news publishers. The aim of the proposed News Media Bargaining Code, which is now going through Parliament, is to get the likes of Facebook and Google to pay a small cut of revenues to news publishers whose stories help drive online traffic, but whose industries and business models have been savaged by the rise of online media.

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