Australia warns Facebook, Google to commit to competition rules, or else

Australia said on Thursday technology giants such as Facebook and Google will have to agree to new rules to ensure they do not abuse their market power and damage competition, or the government will impose new controls on them.

Prime Minister Scott Morrison said the Australian Competition and Consumer Commission (ACCC) will create a code of conduct to address complaints that the technology companies have a stronghold on advertising, the main income generator of local media operators.

The guidelines will ensure substantial market power is not used to lessen competition in media and advertising services markets.