News broke on Tuesday that Facebook was back-pedalling on last week’s alarming Australian news blackout, having come to terms with the Aussies over the proposed News Media Bargaining Code. At the same time, Google has gone quiet on its threat to withdraw its search functionality Down Under in response to the same code.

The legislation, Associated Press explains, “was designed to curb the outsize bargaining power of Facebook and Google in their negotiations with Australian news providers”. Under the new code the “digital giants would not be able to abuse their positions by making take-it-or-leave-it payment offers to news businesses for their journalism,” AP wrote...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now