22 Nov 2021
Australian Tycoon to Help Small Publishers Negotiate Deals with Google, Facebook
The Index Today
Australia’s richest business tycoon announced to help 18 small local publishers secure licensing deals with Google and Facebook.
Andrew Forrest, chairman of Fortescue Metals Group will use his Philanthropic organization, The Minderoo Foundation to apply to the Australian Competition and Consumer Commission ACCC to ensure better negotiation on their behalf.
The move is aimed at helping small publishers strike a deal with both tech giants Facebook and Google. Andre Forrest’s billion-dollar position in the industry and influence could pave way for the government to intervene and change approach towards small publishers in the market. Recently, Facebook and Google were asked to negotiate with local publishers to determine advertising on their websites and content.
However, despite the recent developments, many small sized publishers were left out of developments. TV broadcaster SBS has managed to confirm a deal with Google but not Facebook. Australian Competition and Consumer Commission ACCC is unsure of how Facebook is taking on the new law and has raised concerns. The new law will allow negotiations to take place and set a new fee between tech giants.
©Photo: Ernst & Young