Facebook says will stop news sharing in Australia if new regulations become law

The Australian government said in July it would require tech giants Facebook and Alphabet Inc’s Google to pay for news provided by media companies under a royalty-style system that is scheduled to become law this year.

“This is not our first choice – it is our last. But it is the only way to protect against an outcome that defies logic and will hurt, not help, the long-term vibrancy of Australia’s news and media sector,” Facebook Australia managing director Will Easton said in a statement published on Tuesday. Following an inquiry into the state of the media market and the power of the U.S. platforms, the Australian government late last year told Facebook and Google to negotiate a voluntary deal with media companies to use their content.

After those negotiations failed, Australia’s competition regulator drafted laws that it said would allow news businesses to negotiate for fair payment for their journalists’ work. Easton said the proposed legislation misunderstands the dynamic of the internet and will damage news organisations.Reporting by Bhargav Acharya and Jonathan Barrett; Editing by Subhranshu Sahu and Christopher Cushing

I Can't wait to see Facebook going out of business just like myspace 🌪🧹

This is an interesting idea.

Maybe the news outlets will realise how much they need search and social media

We should be so lucky. Facebook is run by selfish, horrible liars who only care about $$. They are not loyal to any country nor do they care about how people w/in countries are treated. Cruelty, torture, death means nothing. Just $$. That's it.

Go ahead.

FB is not democracy's friend. Delete.

Good. We should copy those regulations everywhere else too.

It’s clear Facebook wants something for nothing. cancelfacebook

Facebook is evil.

🙏🏼 🇦🇺

Good do it. Life is too short to waste time on Facebook. Boo to Facebook's threats

Destroy criminal Antifa and BLM Defend USA with blood and lives

good ❤️

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