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Australian mining billionaire helping publishers strike content deals with Google, Facebook

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The Google logo and the Australian flag are shown in this figure taken on February 18, 2021. REUTERS / Dado Ruvic / Illustration

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Sydney, November 22 (Reuters)-Australian mining billionaire Andrew Forrest’s philanthropic group has 18 small news publishers in the country negotiating with Google and Facebook (FB.O) on news content. Helps secure a license agreement for supply.

Forrest’s Minderoo Foundation announced on Monday that it will submit an application to the Australian Competition and Consumer Commission (ACCC), the national competition regulator, to allow publishers to negotiate without violating competition law. bottom.

Fortes, Australia’s wealthiest man, is chairman and largest shareholder of the Fortescue Metals Group (FMG.AX), an iron ore miner. According to the Australian Financial Review, his net worth is approximately A $ 27.2 billion ($ 19.7 billion).

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Since March, Google on Facebook and Alphabet Inc (GOOGL.O) have been asked to negotiate with Australian retailers about content that drives traffic and advertising to their website. If not, the government may take over the negotiations.

Since then, the two companies have licensed most of Australia’s major media companies, but not many small businesses. The federal government plans to begin reviewing the validity of the law in March.

Frontier Technology, an initiative of Minderoo, said it would support publishers.

Emma McDonald, Policy Director for Frontier Technology, said in a statement, “Giving small Australian publishers that create public interest journalism for the community the same opportunities as large publishers for the public good. We need to negotiate the use of the content in order to do so. “

Google and Facebook didn’t immediately respond to requests for comment.

According to McDonald’s, 18 small publishers include online publications that attract a multicultural audience and focus on local or regional issues.

The move will occur after the ACCC allowed 261 radio station representatives to negotiate content deals at the end of last month.read more

News organizations that are losing advertising revenue to online aggregators have been complaining for years about the big tech companies that use search results and other feature content for free.

($ 1 = 1.3826 Australian dollars)

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Report by Renju Jose; edited by Diane Craft

Our Standard: Thomson Reuters Trust Principles.

Sources

1/ https://Google.com/

2/ https://www.reuters.com/markets/commodities/australian-mining-billionaire-help-publishers-strike-content-deal-with-google-2021-11-21/

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