Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Australia Regulator Releases Draft Rules for Google, Facebook to Pay Media Companies

share with twitter share with LinkedIn share with facebook
07/30/2020 | 08:31pm EDT

By Mike Cherney

SYDNEY--Australian authorities released a draft of new rules on Friday that would enable media companies to seek payment from Facebook Inc. and Alphabet Inc.'s Google for content that is posted to their websites.

The new rules would govern how negotiations between the digital platforms and news businesses take place, the Australian Competition and Consumer Commission said. Under the rules, which need to be passed by Australia's Parliament, media companies can proceed to mediation and then to binding arbitration if no deal on payment is reached.

"There is a fundamental bargaining power imbalance between news media businesses and the major digital platforms, partly because news businesses have no option but to deal with the platforms, and have had little ability to negotiate over payment for their content or other issues," ACCC Chairman Rod Sims said.

The new rules would initially apply only to Facebook and Google, but other digital platforms could be added if they attain a bargaining-power imbalance with Australian media companies in the future, the regulator said.

Late last year, the Australian government asked the regulator to develop a voluntary code that would govern the relationship between media and the digital platforms. Talks over payment issues stalled, however, and in April the government asked the regulator to develop a new set of mandatory rules.

The regulator said a public-comment period on the new rules will run until Aug. 28, and final legislation will be introduced in Parliament shortly thereafter.

Publishers have long sought compensation from Google and Facebook, which collect ad revenue based on visits to their sites and increase their traffic by including links to news articles. In the past, the tech giants have resisted paying for content, instead making donations through philanthropic arms and arguing that publishers benefit by getting large amounts of traffic directed to them.

 

Write to Mike Cherney at mike.cherney@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.10% 1496.82 Delayed Quote.11.87%
FACEBOOK -2.03% 263 Delayed Quote.30.79%
NEWS CORPORATION 3.52% 14.84 Delayed Quote.1.38%
NINE ENTERTAINMENT CO. HOLDINGS LIMITED 2.10% 1.46 End-of-day quote.-18.44%
SEVEN WEST MEDIA LIMITED 0.00% 0.1 End-of-day quote.-69.70%
share with twitter share with LinkedIn share with facebook
Latest news on FACEBOOK
04:20pWALL STREET STOCK EXCHANGE : Stocks Edge Higher to Start the Week
DJ
04:17pSandy Hook Families Question Remington's Plan for Speedy Bankruptcy Sale
DJ
04:09pWALL STREET STOCK EXCHANGE : S&P 500 ends up slightly, tech-related shares under..
RE
03:17pWALL STREET STOCK EXCHANGE : Dow, S&P rise; value outperforms
RE
03:08pDow, S&P 500 up; tech-related shares underperform value
RE
02:57pWALL STREET STOCK EXCHANGE : U.S. Stocks Waver to Start the Week
DJ
02:39pFacebook, Microsoft gripes with Apple's App Store on EU's antitrust radar
RE
02:34pWALL STREET STOCK EXCHANGE : S&P 500 ends up slightly, tech-related shares under..
RE
01:55pEXPLAINER : Microsoft's TikTok bid spotlights Windows maker's history with China
RE
01:28pWall St mixed with stimulus in focus; Dow hits over 5-month high
RE
More news
Financials (USD)
Sales 2020 80 080 M - -
Net income 2020 23 136 M - -
Net cash 2020 62 036 M - -
P/E ratio 2020 33,0x
Yield 2020 -
Capitalization 749 B 749 B -
EV / Sales 2020 8,58x
EV / Sales 2021 6,78x
Nbr of Employees 52 534
Free-Float 83,8%
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 48
Average target price 282,86 $
Last Close Price 263,00 $
Spread / Highest target 23,6%
Spread / Average Target 7,55%
Spread / Lowest Target -54,4%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK30.79%764 736
MATCH GROUP, INC.41.13%30 008
TWITTER15.88%29 294
LINE CORPORATION0.75%12 222
SINA CORPORATION0.23%2 617
NEW WORK SE2.23%1 977