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Frydenberg said none of these transactions would occur without a bill to create a so-called news media negotiation code.

Legislators were discussing an amended law in the House of Representatives on Wednesday to create a code.

This code creates an arbitration panel that sets a binding price for news when Google and Facebook fail to trade with a media company to which the original journalism is linked.

From the perspective of both the news media business and the digital platform, all I’ve heard from the parties is that these are generous deals, Frydenberg said.

These are fair deals. These are great deals. He added that these are good deals for the Australian media business.

Google and Facebook, which make up 81% of Australia’s online advertising, have accused the code of not working.

Google says that if the code is introduced, search engines may not be available in Australia. Facebook said that if the platform had to pay for the news, it could prevent Australians from sharing the news.

Freidenberg said the platform signed these commercial arrangements after a weekend meeting between Facebook CEO Mark Zuckerberg and Alphabet and its subsidiary Google CEO Sundar Pichai. He said he was confident he wanted to.

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