AUD Markets News Platforms 

Regulation needed to curb Facebook and Google, watchdog says

“In the past three years, Google and Facebook are estimated to have captured 80% of the growth in digital advertising” writes Amanda Meade for The production of news and journalism cannot be left entirely to market forces and regulation is needed to curb the power of Facebook and Google, the competition regulator says.The preliminary report recommended a powerful new authority to oversee the commercial activities of Google and Facebook.The ACCC chairman, Rod Sims, says the digital platforms inquiry, which delivered its preliminary report in December, revealed that the market power enjoyed by the digital behemoths was weakening Australian media.

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