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It’s war - Meta pulls out of news deal

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The Albanese government and local media companies will go to war with Facebook owner Meta, after the digital giant said it would stop paying news publishers about $70 million a year for content when existing deals expire this year.

After months of speculation the $1.9 trillion social platform would back out, Meta’s local boss Will Easton and Asia-Pacific public policy lead Simon Milner told publishers and the government it would not negotiate new deals. The Albanese government says it will move within weeks to force Meta to the negotiating table.

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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com

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    Original URL: https://www.afr.com/companies/media-and-marketing/meta-refuses-to-pay-for-news-setting-up-war-with-publishers-20240301-p5f93l