SYDNEY (Reuters) – Australia’s will be published on Friday include recommendations for limiting the power of the Facebook Inc. and Google, it is possible to define a member of the global legislators are struggling to cope with the AMERICAN technology giants’ dominance of online news and advertising.
FILE IMAGE: The Google logo is displayed at the entrance of the Google offices in London, united Kingdom, January 18, 2019. (REUTERS photo/Hannah McKay/File Photo
The Australian Competition and Consumer Commission’s (ACCC) report is likely to recommend a more stringent control, and some of the world’s first regulatory body specifically devoted to monitoring the market power of the dominant online platform.
The report will be closely watched by the authorities all over the world governments scramble to adapt the laws to the benefit of the rapid growth of companies that have a lot of sway over the advertising, retail, financial services and media industries.
Google and Facebook have rejected the proposals for further research will be embedded in an earlier draft of the ACCC report, it said the watchdog had underestimated the level of competition in the Australian online advertising market.
Australia’s traditional media companies, including Rupert Murdoch’s News Corp., had called for an investigation into the impact of the global online companies in the advertising market, and supported the draft recommendations, released last year.
The government will release the final version of the ACCC report, on Friday, the regulator said. As a representative of the Treasurer, Josh Frydenberg, and the minister’s supervision of government, in its response to the report, was not immediately available for comment.
Australian media reports said the government planned to file a formal response to the report that will be available later this year.
Regulators in the United States, to Europe, to try to
in response to the concerns over the technology giants, ranging from an anti-trust cases of alleged political bias, and the spreading of “false news” and hate speech.
- The australian regulator, to obtain a unit which is specialized in high-tech companies
The Australian report is likely to be the most comprehensive scheme for the regulation of their dominant position on the advertising spending, the debt, the owners of the media for the decline of the traditional media.
This week, the U.S. lawmakers met with the state attorney general to discuss the renewal of the antitrust laws to stop the big tech companies are stifling competition.
Facebook announced this month that it is facing an antitrust probe from the Federal Trade Commission.
Reporting by Byron Kaye; Editing by Stephen Coates