The Australian government is nearing an agreement with US tech companies Facebook and Google about paying local media companies for news. That is what the country’s finance minister, Josh Frydenberg, said on Monday.
Google previously threatened to shut down the search engine in Australia if new legislation forced the company to pay for news. Facebook planned to stop Australians from sharing news on its platform.
Google wants to compensate media companies through the new product “News Showcase”. On Monday, the first major Australian news organization announced that it had reached an agreement with the search engine. Google already has a deal with 121 media companies in France to offer news.
A Google spokesperson said the company was in talks with Australian publishers large and small. A Facebook spokesperson said the company was negotiating to “close deals that reflect the commercial value of news on our platform.”