Meta executive claims Australian news outlets used laws to pay debt, reward shareholders – The Age

By Zoe Samios

July 4, 2022 — 5.00am

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One of Meta’s senior European executives has slammed Australian news outlets claiming they are using the money they received under bargaining laws to pay down debt and reward shareholders, as a senior Google executive claimed his company didn’t understand how the code worked.

Australian Treasury is preparing to run a series of roundtables to evaluate the effectiveness of its framework, which was introduced last February to force Google and Meta into negotiations with media outlets for use of their content. The tech giant executives shared very different views on the company experience with the creation of the laws.

John Severinson, head of partner development at Meta, said the laws did not encourage collaboration between media and tech companies.

“The government should encourage the development of new business models. One of the learnings from Australia is that it doesn’t solve – or attempt to…

Read Full Story: https://www.theage.com.au/business/companies/meta-executive-claims-australian-news-outlets-used-laws-to-pay-debt-reward-shareholders-20220701-p5ayae.html

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