Facebook not to renew commercial deal with AU

Facebook’s owner, Meta, has announced it will not extend its multi-million dollar advertising deals with Australian news media firms.

After the News Media Bargaining Code was implemented three years ago, the Corporation entered into agreements with Australian news organizations. These agreements forced the Internet giants to pay for displaying news on their platforms.

According to the government, the contracts, which were set to expire in a few months, paid $200 million to Australian media corporations including Nine and the ABC.

Facebook said in a statement that it will invest its money elsewhere and that its users are not using its platform for news and political content.

This is part of our continuous efforts to better match our offerings with our investments.