Facebook to restrict news content in Australia

Facebook Inc will restrict publishers and users in Australia from sharing or viewing news content in response to a proposed law that would require it and Alphabet Inc’s to pay publishers for content, the company said in a blog post on Wednesday. The law “fundamentally misunderstands” the relationship between tech platforms and publishers, Facebook said, adding that it has helped Australian publishers earn about AU$407 million last year through referrals. Facebook said Australian users will not be able read or share news content on the platform, and Australian news publishers will be restricted posting or sharing content on Facebook pages. Google has also threatened to shut down its search engine in the country to avoid “unworkable” content laws. Australia plans to pass laws that would allow it to appoint an arbitrator to set Google and Facebook’s content fees if it cannot strike a deal privately.