Facebook has announced an investment of US$5.7 billion (A$9.3 billion) in Jio Platforms, a company that owns India's biggest mobile provider with nearly 388 million subscribers. The social media giant has thus become the biggest minority shareholder in the company.
Much is being made of the fact that the government has told the ACCC to draft a mandatory code to make Google and Facebook (among others) pay for using content from Australian news publishers. But has anyone thought of how the US Government would react to this?
The Australian Government has asked the competition watchdog to develop a mandatory code of conduct before the end of July to make digital companies pay for the use of news from local publications.
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