Tech giant Facebook has opposed calls by Australian media companies for digital platforms to be regulated, amid an inquiry into their impact on competition in news and advertising markets.
The government tasked the Australian Competition and Consumer Commission earlier this year with assessing whether platforms such as Facebook and Google were using their market power in commercial dealings to the detriment of users, news media and advertisers.
Australian media groups, like their peers worldwide, are losing circulation and advertising revenues to digital competitors.
Australian media tycoon Kerry Stokes, the head of major commercial broadcaster Seven, on Monday, April 23, urged Canberra to take “serious action” against the two online titans.
“The government must act decisively to curtail the frightening power and influence these companies have,” Stokes told The Australian newspaper.
“The duopoly of Facebook and Google now control over 80 percent of the global digital ad market, taking away advertising dollars from local media without any of the controls and rules we must adhere to, creating an uneven playing field.”
Full Content: The Australian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI