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Australia passed the media law

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Miguel A. Rodriguez
Miguel A. Rodriguez
25 February 2021
Social media outlets are now required to pay for the content displayed on their platforms

The News Media and Digital Platforms Mandatory Bargaining Code officially became law in Australia, and it will require platforms such as Google and Facebook to pay the local media outlets for the content displayed on the news feeds or search results.

“The Code will ensure that news media businesses are fairly remunerated for the content they generate, helping to sustain public interest journalism in Australia,” read the statement of Communications Minister Paul Fletcher and Treasurer Josh Frydenberg.

By approving this law, Australia became the first country where a government-appointed arbitrator can decide the final price that platforms have to pay the Australian publishers for their content if a deal in not reached independently.

With this law, Australia could set a precedent for other countries like France, Canada, and the UK to regulate Big Tech.

Following the news, Facebook stock price traded 0.58% lower.

Read more about the matter here and here!

Sources: cnbc.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.