/ 04 March 2024

Media companies tussle with Meta


Aussie media companies are gearing up for a fight with Facebook/Instagram’s owner Meta after the US tech giant announced it’ll ditch a deal worth $70 million/year that was inked 3 years ago. Remember when Facebook instigated a news blackout in 2021 after a stand-off over Australia’s media bargaining code? This is the next chapter in this story… The Code is in place to ensure Facebook and Google pay for news content hosted on their sites, and last time they coughed up hundreds of millions for the big publishers (but not independent publishers like The Squiz, which is a whole story we’ll tell you about some other time…). But on Friday, Meta said it won’t renew the deal so a plan to force Meta back to the negotiating tableis being worked on. Not that Meta boss Mark Zuckerberg seems worried – he spent the weekend wining and dining with India’s elite

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