Australia has passed a new law forcing Google and Facebook to pay publishers for news content.
The bill - called the News Media and Digital Platforms Mandatory Bargaining Code - requires the two companies to negotiate licensing agreements with publishers for news articles appearing on Facebook's feed and Google search.
Australian Treasurer Josh Frydenberg said: "This legislation will help level the playing field and see Australian news media businesses paid for generating original content."
Nick Clegg - who oversees Facebook's global affairs - noted in a blog post this week that publishers benefit from the social media platform.
He wrote: "It is understandable that some media conglomerates see Facebook as a potential source of money to make up for their losses, but does that mean they should be able to demand a blank check?"
The code gives Facebook and Google 90 days to reach compensation agreements with publishers.
However, if they fail to do so then an arbitrator will give a final and binding decision.
Furthermore, last-minute amendments mean both Google and Facebook could escape being subject to the provisions, while the latter can still once again pull news from its Australian platform if the terms are deemed unfavourable.
