Facebook Laws Are Just The Start Warns Australian Watchdog

Australia’s competition regulator has warned that planned laws to make the country the first in the world to force Google and Facebook to pay for news content were likely just the start of more regulation for digital platforms, reported Reuters.

The Australian government announced legislation last month after an investigation it said showed the tech giants held too much market power in the media industry, a situation it said posed a potential threat to a well-functioning democracy.

Under the code, Google and Facebook will be subject to mandatory price arbitration if a commercial agreement on payment for Australian media cannot be reached.

“This bargaining code is a journey, if we see market power elsewhere, we can add them to the code,” Australian Competition and Consumer Commission Chairman (ACCC) Rod Sims said in an interview for Reuters Next.

Digital platforms face fines of up to A$10 million ($7.7 million) if they do not comply with the decision.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.