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Tech giants who refuse to renew their commercial deals with Australian news publishers will face financial penalties under a proposal by the Labor government. Prime Minister Anthony Albanese is expected to introduce a new scheme under which companies such as Meta and Google would be hit with a levy if they choose to no longer pay news publishers for content, the Daily Telegraph reports. The outlet reports the levy would amount to greater than the cost of paying for the news content.
The code forced the online powerhouses to pay for displaying news content and therefore compensated Australian media organisations for producing it. The three-year deals expired in March. Meta, parent company of Facebook and Instagram, said the decision not to renew - estimated to have cost the industry $70 million - was “part of an ongoing effort to better align our investments to our products and services people value the most”.
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