Facebook Reaches Agreement With Australian Government To Restore News Sharing

Image: Sydney Opera House. Source: Anna Mustermann / Pixabay

Facebook Inc (Nasdaq: FB) will soon restore news pages in Australia after government officials agreed to change some of the terms within the country’s proposed new media code.

The compromise announced Tuesday by Australian treasurer Josh Frydenberg will still require Facebook and Alphabet Inc’s (Nasdaq: GOOGL) Google to compensate media companies for stories but will also provide more time for the social media platforms to negotiate with media companies over payment.