The Facebook-Australia news battle seems to have reached an end, Android gets an update and Lucid Motors is going public via SPAC. This is your Daily Crunch for February 23, 2021.
The big story: Facebook brings news sharing back to Australia
Last week, Facebook responded to the Australian government’s proposed law requiring internet platforms to strike revenue-sharing agreements with news publishers by blocking news sharing and viewing for users in the country. But with the government amending the law, Facebook said it will restore news sharing in the “coming days.”
Among other things, the amendments call for a two-month mediation period before Facebook is forced into arbitration with publishers, and it also says the government will consider commercial agreements that the platforms have made with local publishers before deciding whether the law applies to them.
William Easton, Facebook’s managing director for Australia and New Zealand, said in a statement that the amendments address “core concerns about allowing commercial deals that recognize the value our platform provides to publishers relative to the value we receive from them.”
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