According to a report from the Sydney Morning Herald, Australian Competition and Consumer Commission (ACCC) chairman, Rod Sims says Facebook and Google must shoulder the blame for cuts to thousands of journalism jobs in Australia over the past decade, and that the rise of the digital platforms at the expense of traditional media is not simply a case of “creative destruction.”
“I was getting the response of people saying ‘isn’t this just creative destruction? You know, classic Schumpeter, the way the world works?’” he said in an interview ahead of the speech. “Well… it isn’t. This isn’t just like the car taking over from the horse and buggy, or more recently, Uber taking over from the taxi.”
In December last year, the ACCC released interim findings from its 12-month investigation into the digital platforms, finding that Google and Facebook’s market power is hurting traditional media companies.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
House Passes ‘Take It Down Act,’ the First Major AI-Related Federal Regulation
Apr 29, 2025 by
CPI
Michigan Sues Express Scripts, Prime Therapeutics for Alleged Price-Fixing Scheme
Apr 29, 2025 by
CPI
Tech Rivals Testify as FTC Antitrust Trial Against Meta Enters Defining Phase
Apr 29, 2025 by
CPI
Spanish Judge Investigates Nationwide Blackout as Possible Cyber Threat
Apr 29, 2025 by
CPI
Trump Administration Pushes EU to Delay AI Regulations
Apr 29, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Mergers in Digital Markets
Apr 21, 2025 by
CPI
Catching a Killer? Six “Genetic Markers” to Assess Nascent Competitor Acquisitions
Apr 21, 2025 by
John Taladay & Christine Ryu-Naya
Digital Decoded: Is There More Scope for Digital Mergers In 2025?
Apr 21, 2025 by
Colin Raftery, Michele Davis, Sarah Jensen & Martin Dickson
AI In the Mix – An Ever-Evolving Approach to Jurisdiction Over Digital Mergers in Europe
Apr 21, 2025 by
Ingrid Vandenborre & Ketevan Zukakishvili
Antitrust Enforcement Errors Due to a Failure to Understand Organizational Capabilities and Dynamic Competition
Apr 21, 2025 by
Magdalena Kuyterink & David J. Teece