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Facebook makes peace with Australia and guarantees millionaire investment

Mark Zuckerberg’s social network pledged on Wednesday to invest at least $ 1 billion in the news industry over the next three years. This is the result of the standoff between Facebook and the Australian government.

After having made a test of strength, or extreme measure, depending on the opinions, the social network has now reached an understanding that will aim at paying the main news sources. The company followed the example of Google, which immediately agreed to the imposition.

Facebook reaches an understanding with Australia

Facebook social network

At issue was the new legal provision approved by the Australian government that obliges Bit Tech like Facebook and Google to monetarily compensate the media. The levy is seen as fair retribution since social networks and search engines distribute news from legitimate sources on their platforms.

Recently, Facebook reported the reasons for its blockade to all news content in Australia. Pointing fingers at government officials who “did not know how to interpret the relationship between social networks and news networks, Zuckerberg’s company would eventually remove all publications from legitimate sources on its social networks. The measure was reported by 4gnews.

This was one of the hot topics from last week. A duel of wills between the social network and the country’s news networks with the endorsement of the Australian government. Now, the understanding is advanced by the Reuters agency, putting an end to the conflict.

Facebook’s scrutiny was motivated by the spread of fake news

In addition to its business model, the role of social networks has also received increased attention from the competent authorities. Being its platform used to disseminate the most diverse contents, also the false news, or misinformation would end up finding a great stage on Facebook.

In view of these findings, the North American company began to come under increasing scrutiny, and there was also criticism from the media. Tensions increased and would culminate in last week’s stalemate.

Over one billion euros for the media over three years

This Tuesday (23) Facebook reactivated all news pages in Australia. It would also lift restrictions on the publication of news on the social network and the sharing of news content from Australia in other countries.

Facebook’s attitude came to shock average settled down. Nothing foresaw such a radical and quick attitude on the part of the social network. The uproar that was then felt remains visible in the fears and comments about the drastic attitude on the part of these agents.

However, Facebook maintains the thesis of “lack of understanding” of the relationship between the social network and the news industry. The statements are present on the official blog of the social network.

Facebook also made it known that it is negotiating with several news networks in Germany and France, seeking similar deals to compensate the media.

For all intents and purposes, the Australian example will not be repeated.

4gnews editors recommend:

*The article has been translated based on the content of https://4gnews.pt/facebook-faz-as-pazes-com-a-australia-e-garante-investimento-milionario/ by 4gnews.pt
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