However, he said its solution was counterproductive. On the one hand the IT giants have far too much invested to roll over at the behest of a national government. Mr Frydenberg is finalising legislation to ensure Facebook and Google fairly compensate news media companies for their work. "But it is the only way to protect against an outcome that defies logic and will hurt, not help, the long-term vibrancy of Australia's news and media sector.

This is just round one. Mr Easton's claim the draft code "misunderstands the dynamics of the internet" is equally disingenuous. By apparently preempting any attempt to reach a "good faith" settlement, Facebook and Google are rejecting the principle they should pay a reasonable amount to host the copyrighted works of Australian journalists and media companies for their own financial gain.

Google wasn't the first search engine. Mr Easton said the company has invested million of dollars in Australian news and offered to spend even more, while also proposing a dedicated platform for local content. "The range of concerns held by all stakeholders demands a credible response from the government," she said.

On the other, Australia's "legacy" media companies are in a fight to the finish. "Assuming this draft code becomes law, we will reluctantly stop allowing publishers and people in Australia from sharing local and international news on Facebook and Instagram," he said in a statement on Tuesday. The Campbelltown... See more of Campbelltown Macarthur Advertiser on Facebook Facebook sent Australian news websites 2.3 billion free "clicks" in the first five months of the year, driving traffic worth an estimated $200 million. Facebook has warned that if the federal government pushes ahead with plans to make it and Google pay Australian media companies for their stories, it … The social media giant has warned it will ban news on both Facebook and Instagram if a landmark plan proposed by Australia's competition watchdog is approved. We don't respond to coercion or heavy handed threats wherever they come from," he told AAP on Tuesday.Mr Frydenberg is finalising legislation to ensure Facebook and Google fairly compensate news media companies for their work.Facebook executive Will Easton said the Australian government falsely assumed social media giants benefited most from their relationships with news organisations. They fear it will bring about real change, and create a model for other jurisdictions to emulate. Both would be aware of the peril in cutting back on services. "Instead, we are left with a choice of either removing news entirely or accepting a system that lets publishers charge us for as much content as they want at a price with no clear limits.

51 were here. Australia has accused Facebook of a heavy-handed bluff after the social media giant threatened to ban news from its platforms. ACCC chairman Rod Sims pointed out Facebook already paid for some news content and said the code would ensure smaller media players could get a seat at the negotiating table. Unless the boundaries, and the balance of power, is reset our media landscape will continue to decline. The intensity of their opposition to the code actually validates it. We don't respond to coercion or heavy handed threats wherever they come from," he told AAP on Tuesday. "Assuming this draft code becomes law, we will reluctantly stop allowing publishers and people in Australia from sharing local and international news on Facebook and Instagram," he said in a statement on Tuesday. "The range of concerns held by all stakeholders demands a credible response from the government," she said.Facebook has been roundly condemned for threatening to block Australian users from sharing news if it is forced to pay local publishers for their content. It has proven to be a particularly Darwinian market place. The intensity of their opposition to the code actually validates it.

Google wasn't the first search engine. The Australian Competition and Consumer Commission, which is taking the lead on the proposed media code, described Facebook's threats as ill-timed and misconceived. "But these proposals were overlooked," he said. Facebook's latest response to the ACCC's draft News Media Bargaining Code has been to say if it becomes law users would be blocked from sharing local and international news on its platforms, including Instagram. Tuesday's threat to shut down news posts across Facebook and Instagram is his way of saying if his company can't make the rules it doesn't want to play this game. The internet, despite its ubiquity, is less than three decades old. Facebook has been roundly condemned for threatening to block Australian users from sharing news if it is forced to pay local publishers for their content.The social media giant has warned it will ban news on both Facebook and Instagram if a landmark plan proposed by Australia's competition watchdog is approved.Treasurer Josh Frydenberg issued a swift and stinging rebuke. If those negotiations broke down an independent arbiter would make the final decision.By apparently preempting any attempt to reach a "good faith" settlement, Facebook and Google are rejecting the principle they should pay a reasonable amount to host the copyrighted works of Australian journalists and media companies for their own financial gain.It seems ironic that in his most recent "update" Facebook's Will Easton claims the current, unregulated, situation works more to the advantage of the media companies, who have complained of being ripped off for years, than it does for Facebook.

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