Canberra [Australia], February 25 (ANI/Sputnik): The Australian parliament has passed an amended version of the law forcing tech companies to share revenue with media businesses after the original variant triggered a backlash from Facebook, Treasurer Josh Frydenberg announced on Thursday.
On Tuesday, the treasury presented amendments to the original bargaining code after Facebook removed posts of Australian news outlets and government pages in protest against the bill. Following the change to the code, the tech giant moved to lift the news blackout. On Wednesday, the Australian upper house passed the amended bargaining code, which was then sent back to the lower chamber for approval.
"Parliament has today passed the Morrison Government's world-leading News Media and Digital Platforms Mandatory Bargaining Code that addresses the bargaining power imbalance between news media businesses and digital platforms," Frydenberg said.
According to the treasurer, the code will ensure that media businesses are "fairly remunerated" for their content and will offer a relevant framework for negotiations, but the parties are still encouraged to talk commercial deals outside the code.
"The Government is pleased to see progress by both Google and more recently Facebook in reaching commercial arrangements with Australian news media businesses," he added.
Under the code, if technology giants fail to negotiate compensation agreements with news publishers, a state-appointed arbitrator will issue a binding decision. (ANI/Sputnik)