Tag: giants

A leading publisher called Thursday for Google and other tech giants to pay Australian news outlets some US$400 million a year under a mandatory code of conduct ordered by the government.

Australia last month announced plans to force Google, Facebook, and other internet firms to share advertising revenues earned from news content featured by their search engines.

In an initiative being closely watched across the world, the government is due to unveil in July details of the mandatory payments as part of a code of conduct for the tech giants’ dealings with news media.

The chairman of Nine Entertainment, Australia’s second-biggest media company, argued Thursday that the payment should amount to 10 percent of the tech companies’ advertising revenue in Australia — estimated by the government at some Aus$6.0 billion (US$3.9 billion) per year.

Peter Costello said the Australian Competition and Consumer Commission (ACCC) had determined that 10 percent of