The purpose of the bill is to ensure Australian news media are compensated when companies use their articles and thereby drive traffic to their platforms.
Meta, the owner of Facebook and Instagram, says it is "strongly opposed" to the legislation - which specifically targets Meta, Google and TikTok.
“Our position is clear: this law is poorly designed, deeply unfair, and will fail to create a diverse and sustainable news industry.”
Companies are encouraged to negotiate their own agreements with news media in the first place. If they refuse, they risk a mandatory levy of 2.25 percent of their Australian revenues.
