Australian mining billionaire to help publishers strike content deal with Google, Facebook

Google emblem and Australian flag are displayed on this illustration taken, February 18, 2021. REUTERS/Dado Ruvic/Illustration

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SYDNEY, Nov 22 (Reuters) – Australian mining billionaire Andrew Forrest’s philanthropic organisation will help 18 small information publishers within the nation to negotiate collectively with Google and Facebook (FB.O) to safe licensing offers for the provision of stories content.

Forrest’s Minderoo Foundation on Monday stated it might submit an utility with the nation’s competitors regulator, the Australian Competition and Consumer Commission (ACCC), permitting the publishers to cut price with out breaching competitors legal guidelines.

Forrest, Australia’s richest man, is the chairman and the most important shareholder of iron ore miner Fortescue Metals Group (FMG.AX). He has a web value of round A$27.2 billion ($19.7 billion), in accordance to the Australian Financial Review.

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Facebook and Alphabet Inc’s (GOOGL.O) Google have been required since March to negotiate with Australian retailers for content that drives visitors and promoting to their web sites. If they do not, the federal government could take over the negotiation.

Both firms have since struck licensing offers with most of Australia’s foremost media firms however they haven’t entered into agreements with many small companies. The federal authorities is scheduled to start a overview of the legislation’s effectiveness in March.

Frontier Technology, an initiative of Minderoo, stated it might help the publishers.

“Small Australian publishers who produce public interest journalism for their communities should be given the same opportunity as large publishers to negotiate for use of their content for the public benefit,” Emma McDonald, Frontier Technology’s Director of Policy, stated in a press release.

Google and Facebook didn’t instantly reply to request looking for remark.

The 18 small publishers embody on-line publications that appeal to multicultural audiences and concentrate on points at an area or regional stage, McDonald stated.

The transfer comes after ACCC late final month allowed a physique representing 261 radio stations to negotiate a content deal. learn extra

News organizations, which have been shedding promoting income to on-line aggregators, have complained for years in regards to the massive expertise firms utilizing content in search outcomes or different options with out cost.

($1 = 1.3826 Australian {dollars})

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Reporting by Renju Jose; enhancing by Diane Craft

Our Standards: The Thomson Reuters Trust Principles.

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