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SYDNEY (Reuters) -Australian mining billionaire Andrew Forrest’s philanthropic organisation will assist 18 small information publishers within the nation collectively negotiate with Google and Fb to safe licensing offers for the provision of stories content material.
Forrest’s Minderoo Basis on Monday mentioned it could submit an utility with the nation’s competitors regulator, the Australian Competitors and Shopper Fee (ACCC), permitting the publishers to cut price with out breaching competitors legal guidelines.
Forrest, Australia’s richest man, is the chairman and the most important shareholder of iron ore miner Fortescue Metals Group. He has a web price of round A$27.2 billion ($19.7 billion), in keeping with the Australian Monetary Evaluate.
Fb and Alphabet Inc’s Google have been required since March to barter with Australian retailers for content material that drives visitors and promoting to their web sites. If they do not, the federal government might take over the negotiation.
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