Meta lashes Australia bid to make tech giants pay for news

Meta, the parent company of Facebook and Instagram, has voiced strong opposition to Australia's proposed legislation that would compel major technology firms to pay for news content. The draft laws are designed to address the financial struggles of local news publishers.

Under the proposed framework, social media giants like Meta, Google, and TikTok would first be given an opportunity to negotiate voluntary content deals with Australian news organizations. However, the legislation includes a mechanism for a compulsory levy if these negotiations fail. This levy would be calculated as 2.25 percent of the companies' Australian revenue.

Meta's pushback signals a significant conflict between global tech platforms and governments seeking to regulate the digital news economy. Australia's approach aims to rebalance the power dynamic, ensuring that the creation of news content is financially supported by the platforms that benefit from its distribution.