Minderoo Foundation to help publishers cut deals with Google, Facebook
Category: #headlines  | By Nikita Chaurasia  | Date: 2021-11-22 |
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Minderoo Foundation to help publishers cut deals with Google, Facebook

The philanthropic organization of Australian billionaire Andrew Forrest, called the Minderoo Foundation, will assist over 18 small news publishers while negotiating with tech giants Facebook and Google to acquire licensing deals for the supply of content.

Sources claimed that Minderoo Foundation will apply with the Australian Competition and Consumer Commission (ACCC) to let the publishers bargain without violating competition laws. This move comes after the ACCC permitted a body representing 261 radio stations to strike a content deal last month.

For the unversed, Andrew Forrest is the richest man in Australia and currently serves as the chairman and largest shareholder of iron ore miner Fortescue Metals Group. His net worth is nearly USD 19.7 billion, as per credible sources.

Frontier Technology, an initiative by Minderoo, is set to help these news publishers. Emma McDonald, The Director of Policy, was quoted saying that small publishers who produce quality journalism content for the community interest should get an equal opportunity like the large publishers.

She added that the 18 publishers include online publications that cater to a vast audience while focusing on both local and regional issues.

Notably, both Google LLC and Facebook have been required to negotiate with Australian publishers and outlets for content that brings traffic and advertising to their websites. Falling to do so would lead the government taking over the negotiation.

As a response, both companies have inked licensing deals with established media companies in Australia but have not considered small media outlets or firms.

Google in its recent statement said that the firm is continuing its talks with publishers of all sizes. Meanwhile, Facebook stated that it has always supported smaller independent publishers.

News organizations have long been complaining that big technology companies have hampered their advertising revenue as they use content in search results or other features without making any payment. However, with the recent deals, the business scenery is likely to change.

Source Credits-

https://economictimes.indiatimes.com/tech/technology/australian-billionaire-to-help-small-publishers-strike-content-deals-with-google-facebook/articleshow/87840806.cms

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Goldman Sachs provides unlimited holidays to its senior employees

Goldman Sachs provides unlimited holidays to its senior employees

By Nikita Chaurasia

Goldman Sachs has recently announced a flexible vacation scheme under which the company’s senior employees can take unlimited paid leaves annually. As per sources, the global investment bank has unveiled a new policy that will allow senior sta...

Shell trades off Russian retail business to native oil producer Lukoil

Shell trades off Russian retail business to native oil producer Lukoil

By Nikita Chaurasia

Energy giant Shell plans on selling more than 400 petrol stations of its Russian subsidiary Shell Neft to Lukoil, the second largest oil producer in the country after state backed Rosneft. As several Western oil and gas firms seek to get rid of th...

Mitsubishi, Siemens sign an MoU to cooperate in SiC traction technology

Mitsubishi, Siemens sign an MoU to cooperate in SiC traction technology

By Nikita Chaurasia

Mitsubishi Electric Europe and Siemens Mobility have recently signed a memorandum of understanding (MoU) to work together in silicon carbide (SiC) traction power technology. As per reports, JR Central’s next-generation N700S Shinkansen train...