Facebook has finally found a way to continue to share news content on its platforms despite its initial stance of not sharing any news content at all in Australia. Facebook initially banned outrightly the sharing of news content on its platforms.
Facebook pushed for some concessions to the initial bill, a more friendly arrangement has now been reached by all parties, one which allows for the tech giants to negotiate with news outlets on pay or face arbitration.
The new arrangement, led by Josh Frydenberg will see Australian News Media Outlets get paid for creating original content.
Australian media regulators had pushed for big technology giants to reach an arrangement with news publishers who have suffered a steady decline in revenue since the widespread adoption of technology under a News Media Bargaining Code.
Facebook has now signed a multi-year licensing deal with the News Corp that will proffer it access to major News Corp Australia outlets such as The Daily Telegraph, Sky News, news.com.au. Google also signed a similar arrangement with News Corp agency.
