Reuters parent Meta Platforms Inc said it would have to remove news from its platform if the US Congress passes the Journalism Competition and Preservation Act, and that broadcasters would be benefited from posting their content on its platform. The Act makes it easier for news companies to negotiate with Internet giants like Meta and Alphabet Inc regarding the terms on which the news companies' content can be distributed online.
Andy Stone, a Meta spokesman, said the Act fails to recognize that publishers and broadcasters put content on the platform because it benefits their bottom line, not the other way around. The government report said that a similar Australian law took effect in March 2021 after talks with the big tech firms resulted in a shutdown of Facebook news feeds in the country.
Since the News Media Bargaining Code took effect, several tech firms including Meta and Alphabet have inked more than 30 deals with media outlets, compensating them for content that generated clicks and advertising dollars, the report said.