© Reuters. FILE PHOTO: The Meta logo is seen in this illustration taken August 22, 2022. REUTERS/Dado Ruvic/Illustration/File
Dec 5 (Reuters) – Facebook parent company (NASDAQ:) Meta Platforms Inc said it would be forced to remove news from its platform if US Congress passes the Journalism Preservation and Competition Act, arguing media outlets benefit from the publication of their content on the platform.
The law makes it easier for news companies to collectively negotiate with internet giants like Meta and Alphabet (NASDAQ:) Inc the terms under which news company content can be distributed online.
Meta spokesman Andy Stone said in a tweet that the law does not recognize that publishers and broadcasters place content on the platform because it “benefits their bottom line, not the other way around”.
A similar Australian law that came into effect in March 2021 after talks with big tech companies led to a brief shutdown of Facebook news feeds in the country has largely worked, according to a government report. .
Since the Media Bargaining Code went into effect, several tech companies, including Meta and Alphabet, have signed more than 30 deals with news organizations, compensating them for content that generates clicks and ad dollars, the report adds.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Spanish editing by Aida Peláez-Fernández)
