Australia to force tech giants to keep paying for news

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The story "Australia to force tech giants to keep paying for news" was covered 13 hours ago by BBC Business, a news publisher based in United Kingdom.

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Australia to force tech giants to keep paying for news - BBC Business

Quick Summary:

The long-awaited decision follows a standoff with Meta, and succeeds a world-first law from 2021.

As deals brokered under that arrangement neared expiry, Meta said that it would not be renewing them, leading to a roughly A$200m loss in revenue for Australian publishers.

The government says it will be designed to make tech companies fund Australian journalism in exchange for tax offsets, not to raise revenue.