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Australia Slated To Introduce New Content Legislation In Parliament Next Week: Reuters

  • Australia will introduce the breakthrough content legislation in Parliament in the upcoming week that will compel Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google and Facebook Inc (NASDAQ: FB) to pay publishers and broadcasters for content, Reuters reports.
  • Recently, Google rolled out the News Showcase platform in Australia to bypass their content law. Google continues to challenge the legislation. It had previously threatened to pull-out from the country.
  • Google’s pull-out could translate into a significant opportunity for Microsoft Corp’s (NASDAQ: MSFT) search engine Bing in Australia. Microsoft also proposed the U.S. government introduce similar laws.
  • If the legislation is passed in the Australian Parliament, it will become the first country to charge Google and Facebook for content usage.
  • Both Alphabet and Facebook have been negotiating with the country for lenient laws.
  • Price action: FB shares are down 0.09% at $270.14 in the pre-market session on the last check Friday.

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