CANBERRA (AUSTRALIA) – Facebook has agreed to restore blocked news pages in Australia news pages after Canberra offered amendments to legislation which would force the tech giant pay for media content, Treasurer Josh Frydenberg said on Tuesday.
Australian government has introduced a legislation that challenged Facebook and Alphabet Inc’s Google’s dominance in the news content market, due to which the social media group have been locked in a standoff for more than a week with the government.
Last week Facebook blocked all news content and several state government and emergency department accounts.
However, a concession deal has been struck after a series of talks between Frydenberg and Facebook CEO Mark Zuckerberg over the weekend.
Australia will offer four amendments, including to the mechanism for final offer arbitration, which a Facebook executive told local media was a sticking point for the company.
“We are satisfied that the Australian government has agreed to a number of changes and guarantees that address our core concerns about allowing commercial deals that recognise the value our platform provides to publishers relative to the value we receive from them,” Facebook said in a statement posted online.
The issue has been widely watched internationally as other countries including Canada and Britain considering similar legislation.