There are few things Australia’s largest media organisations relish more than a fight with a competitor. News Corp and the ABC have a notoriously acrimonious relationship characterised by relentless attacks on each other’s journalism, while Nine Entertainment and Southern Cross-owned Seven’s corporate rivalry is about as bitter as they come.
So when the top executives at those four groups (along with Network Ten, Guardian Australia, regional publisher ACM and multicultural public broadcaster SBS) issue a public statement in furious agreement, it’s usually a sign there is big money at stake.
That’s what happened today after the Albanese government confirmed plans to legislate its News Bargaining Incentive, a new mechanism designed to force tech giants to pay media companies that produce journalism.
For legacy media players, there is a lot at stake here. The Morrison government’s News Media Bargaining Code, which preceded the new scheme, resulted in Google and Meta begrudgingly paying about $200 million to Australian media companies (and, weirdly, public broadcasters) to display links to their news content.
