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Australian mining mogul helping publishers strike content deals with Google and Facebook





Andrew Forrest, an Australian mining bilionaire, will help 18 small news publishers in the country negotiate with Google and Facebook to secure licensing agreements for the provision of news content.

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, an iron ore miner. According to the Australian Financial Review, his net worth is approximately A $ 27.2 billion ($ 19.7 billion).

Since March, Facebook and Alphabet Inc’s Google have been asked to negotiate with the Australian media to negotiate content that drives traffic to the website and advertising. 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, Head of Policy 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 to the public good. We need to negotiate the use of the content for the sake of. “

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.

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.




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