Skip to main content

Market Overview

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

Share:
  • 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.
 

Related Articles (GOOG + FB)

View Comments and Join the Discussion!

Posted-In: News Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com