Australia passes law to make Google, Facebook pay for news

Australia's laws forcing Google and Facebook to pay for news are ready to take effect, though the laws' architect said it will take time for the digital giants to strike media deals.

The Parliament on Thursday passed the final amendments to the so-called News Media Bargaining Code agreed between Treasurer Josh Frydenberg and Facebook chief executive Mark Zuckerberg on Tuesday."The purpose of the code is to address the market power that clearly Google and Facebook have. Google and Facebook need media, but they don't need any particular media company, and that meant media companies couldn't do commercial deals," the Australian Competition and Consumer Commssion chair said.