All Australian news media entities, with the exception of the ABC and SBS, are to be given the power to force global tech giants Google and Facebook to pay for their use of local news content.
A draft Bill to amend the Competition and Consumer Act released on Friday by Treasurer Josh Frydenberg and Communications Minister Paul Fletcher will be introduced to federal parliament after final stakeholder and public consultation at the end of August.
Under heavy legislated penalties of up to 10 percent of their Australian turnover, Google and Facebook will be required to negotiate commercial revenue-sharing arrangements with any or all media entities the Australian Communications and Media Authority (ACMA) declares to be eligible.
