Facebook threat to block sharing of Aussie news stories

With each passing day, the World Wide Web is becoming an outdated name.

Facebook warned on Monday that it would block users and news organisations in Australia from sharing local and international news stories on its social network and Instagram if the country passed a proposed code of conduct aimed at curbing the power of Facebook and Google.

The Australian Competition and Consumer Commission, the country’s top competition authority, is drafting a bill for parliament that would require both companies to negotiate with media publishers and pay them for content that appears on their sites.