Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. lawmakers unveil bill to help news media negotiate with Google, Facebook

Published 08/22/2022, 07:57 PM
Updated 08/23/2022, 08:46 PM
© Reuters. A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration

WASHINGTON (Reuters) - A bipartisan group of U.S. lawmakers on Monday released a revised version of a bill aimed at making it easier for news organizations to negotiate collectively with platforms like Google and Facebook (NASDAQ:META).

The Journalism Competition and Preservation Act "removes legal obstacles to news organizations' ability to negotiate collectively and secure fair terms from gatekeeper platforms that regularly access news content without paying for its value," according to a news release from the lawmakers.

The group includes Democratic Senator Amy Klobuchar and Republican Senator John Kennedy, both members of the Judiciary Committee, and House Judiciary Committee members David Cicilline, a Democrat, and Ken Buck, a Republican.

A previous version of the bill, introduced in March 2021, was opposed by two technology industry trade groups that Meta Platforms' Facebook, and Alphabet (NASDAQ:GOOGL)'s Google belong to - the Computer & Communications Industry Association and NetChoice.

The updated bill would cover news publishers with fewer than 1,500 full-time employees and non-network news broadcasters. It would allow them to work together to win better deals from Facebook, Google and other large platforms, according to the news release.

The 2021 legislation would have applied to any print, broadcast or digital news organization with a dedicated editorial staff that published at least on a weekly basis.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.