Facebook, Google battle Australia over proposed revenue-share law

Facebook Inc said it will block news sharing on its platforms in Australia if the government goes ahead with a law to force it, and Alphabet Inc’s Google, to pay local media outlets for featuring their content on its platforms.
The matter is being watched closely around the world as it represents the biggest challenge so far to the way the U.S. tech giants use news on some of the world’s biggest websites.
WHAT DOES THE PROPOSED LEGISLATION SAY?
* The draft law states that Australian news outlets can negotiate individually or collectively with Facebook and Google over payment for content used on the tech firms’ sites. Other tech firms may be added if they are deemed big enough.
* If the parties cannot reach an agreement, an arbitrator will decide whose offer is more reasonable. If Facebook or Google break any resulting agreements, they can be fined up to A$10 million ($7.4 million) in civil penalties.