ACCC chair Rod Sims said in a statement on Tuesday: "The draft media bargaining code aims to ensure Australian news businesses, including independent, community and regional media, can get a seat at the table for fair negotiations with Facebook and Google."
In its statement on Monday, Facebook Australia and New Zealand managing director Will Easton said the new regulation "misunderstands the dynamics of the Internet and will do damage to the very news organisations the government is trying to protect".
The ACCC opened its draft code of conduct for digital platforms to negotiate with news organisations for comment until last Friday.
Sims said: "Facebook already pays some media for news content. The code simply aims to bring fairness and transparency to Facebook and Google’s relationships with Australian news media businesses.
"We note that according to the University of Canberra’s 2020 Digital News Report, 39% of Australians use Facebook for general news, and 49% use Facebook for news about COVID-19.
"As the ACCC and the government work to finalise the draft legislation, we hope all parties will engage in constructive discussions."