Facebook says its business could afford to get rid of news

REUTERS/Erin Scott

• A competition watchdog in Australia released a proposed code of conduct for Facebook and Google that would force them to pay for linking off to news sites.
• Facebook has rejected this and said if it kicked Australian news off its platform entirely it would not have a "significant" impact on its business.
• Although this dispute is happening in Australia, Facebook's remarks are a signal to publishers agitating for tech giants to compensate the media as revenue continues to erode.
• Facebook said neither it nor Google should be expected to prop up Australian news media.
• Visit Business Insider's homepage for more stories.

Faced with the prospect of having to pay for running news on its platform, Facebook issued a clear message to publishers: We don't need you.

This emerged from a clash between Facebook and Australia's competition watchdog the ACCC, which was tasked with creating a mandatory code of conduct for tech companies in response to the advertising industry shrinking during the coronavirus pandemic. The ACCC released its recommendations for a code of conduct in mid-May.

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