Australian media chiefs want a bargaining code with Facebook and Google legislated as quickly as possible to prevent more news outlets from going under.
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Ten of the country's major news organisations have penned an open letter to federal politicians warning of threats facing the industry.
Many local news groups have gone broke during the coronavirus pandemic and others have been pushed to the brink.
The media bosses argue digital platforms should care about the sustainability of the local news landscape.
They say global tech giants are benefiting enormously from content produced by Australian media organisations, but the financial ledger is very one-sided.
"To survive, local news media businesses must be able to negotiate a fair contribution to the cost of creating content that directly contributes to significant local profits made by Google and Facebook," their letter said.
Facebook has threatened to stop Australian users from sharing news articles if the bargaining code is legislated, while Google will only support the proposed laws if major changes are made.
Australian media bosses hit back at suggestions the code would give local companies special treatment.
They said the code would not require digital platforms to provide any additional user data to news media companies or stop them from changing their algorithms.
Australia's competition watchdog recommended the news media bargaining code after an 18-month investigation into digital platforms.
Treasurer Josh Frydenberg has promised to introduce the code to parliament before the end of this year.
"The government has conducted a further targeted round of consultation with key stakeholders and will carefully assess the feedback we have received before finalising legislation," he told AAP.
"This is an important reform that will strengthen competition and improve the sustainability of the Australian media landscape."
News organisations want the code legislated quickly.
"The code is essential to arrest further declines in professional news content in Australia - something our democracy depends on," their letter said.
Australian Associated Press