New law requires tech giants to pay for news

Facebook and Google will be forced to pay for Australian news under legislation passed on Thursday that is being closely watched globally for precedents in the battle between Big Tech and media companies. The world-first law passed easily after the Australian government agreed to water down elements most fiercely opposed by the tech giants, in return for both agreeing to negotiate paid deals with local media. It paves the way for Google and Facebook to plow tens of millions of dollars into struggling local media companies, and could provide a model for resolving tussles with regulators worldwide.