Under the amendments to the proposed bill, the Australian government will take into account trade deals that digital platforms like Google and Facebook have already made with local news media companies before deciding whether the code applies to giants of technology.
The government will also give digital platforms one month’s notice before making the final decision.
It will also include a two-month mediation period to allow digital platforms and publishers to negotiate deals before they go to arbitration as a last resort.
The amendments are expected to bring “more clarity” to digital platforms and news agencies on how the trading code will be implemented, the government said.
Australia wants digital platforms to pay local media and publishers to link their content to news feeds or search results.
If the two parties fail to strike a trade deal, the government-appointed arbitrators can decide the final price by ruling in favor of either party – the digital platform or the publisher – without room for an interim agreement, according to experts.
One of Facebook’s main points of objection was the arbitration clause.
– CNBC’s Will Koulouris contributed to this report.
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