Australia Slated To Introduce New Content Legislation In Parliament Next Week: Reuters - Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)

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.