Original article by Jessica Yun
The Sydney Morning Herald – Page: Online : 13-Mar-24

Goldman Sachs Australia chairman and former federal treasurer Josh Frydenberg has weighed into the debate over Meta Platform’s decision to not renew content deals with news publishers. He says public interest journalism faces a "billion-dollar black hole" as a result of Meta’s decision. Frydenberg adds that the federal government needs to talk with the leaders of companies such as Meta. Frydenberg notes that he held direct negotiations with Meta CEO Mark Zuckerberg and Google Sundar Pichai when the initial deals via the news media bargaining code were secured in 2021.

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