The Parliament of Australia has passed an amendment to the law, after which the digital giant Google and Facebook will have to pay appropriately for the news. This law is ready to come into effect. However, the makers of the law say that it will take some time for digital companies to enter into agreements in the media sector.
The Australian Parliament on Thursday passed an amendment to the news media bargaining code in this regard. In this regard, the agreement between Treasurer Josh Friedenberg and Facebook’s acting chief Mark Zuckerberg was agreed on Tuesday.
Competition regulator Rod Sims, who drafted the law, said he was pleased that this amended law would remove market imbalances. This will remove the imbalance between Australian news publishers and the two companies with access to the Internet. “All the signals are good,” Sims told the Australian Broadcasting Corporation.
Google has already tied up with Australia’s leading news business recently. These include News Corp and Seven West Media.
The law has been amended in such a way that Facebook and Google will not be able to misuse their strong position in negotiations with Australian news providers. These two top digital companies of the world will no longer be able to take advantage of their strong position and will not be able to enter into agreements for news business at a paltry price.