Google and Facebook risk big fines under draft Australian news law

Google and Facebook would risk multimillion-dollar fines if they failed to comply with proposed legislation introduced into the Australian Parliament on Wednesday that would make the tech giants pay for journalism they display.

Australian Treasurer Josh Frydenberg introduced the so-called News Media and Digital Platforms Mandatory Bargaining Code and revealed details of his plan for Australia to become the first country to force the digital platforms to compensate news media for journalistic content.

We are not seeking to protect traditional media companies from the rigor of competition or technological disruption, which we know benefits consumers, Frydenberg told Parliament. Rather, we are seeking to create a level playing field where market power is not misused and there is appropriate compensation for the production of original news content.”