Australia’s parliament on Thursday passed that historic law, due to which digital companies will have to pay publishers for local news content. Many parts of the world were eyeing this move of Australia.
Initially, companies like Facebook and Google were openly against this law. Facebook on Thursday last week banned the sharing of news from its platform in Australia, showing strong attitude. At the same time, Google had threatened that it would remove its search engine in Australia.
However, when the Australian government agreed to a change in the Law, Facebook said on Tuesday that it would remove its ban from Australian news content.
According to news agency AFP, the new law will pave the way for Google and Facebook to invest millions of dollars in local content deals, and it could prove to be a model for resolving corporate fights with regulators worldwide.
Google will now pay for news content appearing on its “showcase” product, and Facebook is also expected to pay providers appearing on its ‘news’ Content.
Let me tell you that the Australian Government had said recently that it wants to make sure that the media business of the country gets a fair amount from online platforms for their news.