Will Zuckerberg cry to Trump about Albo’s media tax? are you sure

Treasury estimates that the 30 deals that Australian media companies previously had with Google and Meta were worth between $200 million and $250 million a year. After three years, the abandonment of the Meta Code is estimated to have cost hundreds of journalists their jobs.

The idea is that governments are taking action to address the asymmetric power imbalance between Neo Entertainment (which owns these giants) and these global giants, which in the case of Google’s parents, Alphabet and Meta, have market capitalizations of $3.5 trillion and $1.5 trillion, respectively.

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It is worth noting that the other major tech platform that signed up to the original transaction code, Google, has continued to make payments since the introduction of the code in 2021.

The proposed new law, known as the Media Deal Incentive, would cover social media and search platforms with at least $250 million in revenue, regardless of whether they contain news content, according to details released by Assistant Treasurer Daniel Molino.

Other companies harmed by the law could include tic-tac-owner ByteDance, while Apple and Microsoft could be in conflict with the Apple News and LinkedIn platforms, respectively, if they meet Australia’s revenue threshold.

The bill has been a government concern since earlier this year, but has been resurfaced following bilateral trade talks between Anthony Albanese and Trump.

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Although some Australian media companies had hoped that Trump would be sympathetic to their economic challenges against foreign media businesses and major US technology platforms, the US president has shown no respect for media outlets in the US and abroad. It was more like an insult. He recently threatened to sue the BBC and demanded $10 billion in damages from Rupert Murdoch. The Wall Street Journal.

In the past three years, he has also taken legal action against CNN, American Broadcasting Corporation, and CBS.

Trump’s recent friendship with Albania may be tested.

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