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Overhaul of Australia's media-bargaining code to use tax system to create incentives for platforms

( December 12, 2024, 03:58 GMT | Official Statement) -- MLex Summary: The Australian government has announced plans to overhaul its world-first media-bargaining code, arguing that its original regulation to force platforms to pay media companies for the use of its content is no longer working. In a statement today, Australian Minister for Financial Services Stephen Jones and Minister for Communications Michelle Rowland said the new framework, called the News Bargaining Incentive, will use the tax system to create incentives for platforms, including Google, Meta and TikTok, to engage with media companies on how to compensate them for the use of their material. The full statement from Assistant Treasurer Stephen Jones and Communications Minister Michelle Rowland follows:...

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