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Facebook signs letters of intent with 3 Australian media companies

Facebook signs letters of intent with 3 Australian media companies

by YCPress

Facebook announced on Friday that it had signed letters of intent with three Australian media companies.

The day before, the Australian Parliament passed a law that forced Facebook to pay media companies for using content on its platform.

Facebook said it had signed cooperation agreements with Private Media, Schwartz Media and Solstice Media, which owns online magazines.

“These agreements will bring a new series of premium news coverage to Facebook, including some previously paid content,” Facebook said in a statement.

On Tuesday local time, Facebook established a new partnership with Seven West Media, a large Australian news media company, on content copyright.

According to Bloomberg, regulators around the world have been paying close attention to Australian legislation as Australia is struggling to deal with the ad dominance of Facebook and Google.

Australian Prime Minister Morrison said he had discussed the new law with leaders in India, Canada, France and the United Kingdom.