Australia’s parliament passed the first law of its kind, requiring Facebook and Google to pay local publishers for news content on their platforms. Treasurer Josh Frydenberg noted that, “the code is a significant microeconomic reform, one that has drawn the eyes of the world on the Australian parliament.” In fact, Australia Prime Minister Scott Morrison had discussed the new law with leaders of Canada, France, India and the United Kingdom. Facebook recently pledged to spend at least $1 billion over the next three years to license news content. Continue reading Australian Landmark Law Passes, Big Tech to Pay for Content