Big Tech versus journalism

Australia fight challenges politicians elsewhere on how to reset the economics of online news

The Australia block was also a stark reminder of Facebook's willingness to take unilateral action that can have profound effects on political discourse.PHOTO: REUTERS

(FINANCIAL TIMES) - In trying to force a new economic settlement between the news industry and Big Tech, did the Australian government just save journalism - or break it?

Facebook and Google on Wednesday posted drastically different responses to a proposed new Australian law designed to channel some of their vast profits into the pockets of news publishers. These sent reverberations through the global news business and threw down a challenge to politicians around the world, some of whom view the Australian experiment as a model for how to reset the economics of online news inside their own borders.

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