THE Meta Platforms announced on Monday that it will be forced to pull news from its platforms if the US Congress United States pass legislation to preserve competition in journalism.
THE company argues that TV stations benefit from the publication of their content on the company’s social networks.
The legislation makes it easier for media companies to collectively bargain with internet giants like Meta and Google 🇧🇷GOOGL) about the terms under which news content may be distributed online.
Meta spokesperson Andy Stone said the bill fails to recognize that broadcasters and news organizations put content on platforms because it “benefits their bottom line”.
Similar legislation passed in the Australia and which came into force in March last year led to a brief interruption in the display of news on Facebook in the country. According to the Australian government, the law largely worked.
Since the Australian legislation took effect, several internet companies, including Meta and Google, have signed more than 30 deals with media companies, compensating the companies for content that generated clicks and advertising revenue, according to government information.
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.