A string of documents obtained by Capital Brief provide the most detailed account yet of what the government has called on the ACCC to provide and how, as it considers its next steps in Australia's standoff with Meta.
Seven West Media
ASX:SWM
The regulatory call marks an escalation in the efforts of Australian media companies to chase payment from generative AI companies for the use of their content to train AI products.
Shares in the TV, publishing and digital media company are down 27.5% this year and trading near their lowest levels since the pandemic in mid-2020.
The key Seven West Media executive and long-time lieutenant to Kerry Stokes is leaving the company after more than two decades, and just months after CEO James Warburton announced his departure.
Meta’s move to no longer fund the news has been heavily criticised by some of the country's biggest media outlets.
In a rare moment in Parliament on Friday, tensions between Nine and Seven spilled into public view over proposed regulation over the placement of apps on smart televisions.
The discussions add to the urgency within the Australian media sector to secure compensation from generative AI firms, which rely on media content to train their large language models.
