The competition regulator, in letters to major media groups, has sought details about how they make money from and deal with Meta, the platform’s operator.
The competition watchdog has asked major media groups to rate their dealings with Meta and reveal how much money they make from Facebook and Instagram, as it prepares to decide whether the tech giant should be forced to the negotiating table.
Scott Purcell, co-founder of Man of Many. He is wary that forcing Meta to negotiate could push the owner of Facebook to ban all news on its platform, effecting his business.Meta, then known as Facebook, agreed to pay at least $70 million to outlets in 13 deals struck under the News Media Bargaining Code, a law introduced in 2021 by the Coalition to correct a power imbalance between news outlets and Facebook and Google.
“Please describe your dealings with Meta in relation to reaching any commercial agreement with them regarding your news business content since March 2021, including how this has changed over time,” the ACCC has asked. A separate document sent by the competition regulator to industry bodies asks for details about how important Facebook and Instagram are, and to “describe the dealings you have conducted with Meta on behalf of your members”.Executives from the biggest media outlets – News Corp, Nine Entertainment and Seven West Media, for example, have demanded the government designate Meta as soon as it can. “Parliament built a cannon,” News Corp Australia executive chairman.
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