Google and Facebook nearing deals to pay for news, says Australia


 

Australia’s government said Google and Facebook Inc. are nearing agreements to pay domestic media companies for news, in a sign a regulatory standoff may be softening.

Australian Treasurer Josh Frydenberg held talks with Facebook Chief Executive Officer Mark Zuckerberg and Google counterpart Sundar Pichai over the weekend. “We’re very close to some very significant commercial deals,” Frydenberg told the Australian Broadcasting on Monday, according to a transcript sent by his office. “We have made great progress.”

Alphabet Inc-owned Google and Facebook oppose planned Australian legislation forcing them to pay media companies for news, and Google has threatened to shut down its search engine if the law is enacted. Parliament will consider the legislation from this week, giving the internet giants an incentive to agree compensation terms for news companies before the law is passed.

Facebook declined to comment on any specific talks. “We’ve been engaging with the Australian government to outline our concerns with the legislation,” the company said in a statement. A Google spokesman declined to comment. Read More

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