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FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
Facebook moved to lift a contentious ban on Australian news Tuesday, after a last-gasp deal on landmark rules requiring tech giants to pay media companies.
Australia’s Treasurer Josh Frydenberg announced a face-saving compromise, that will see Google and Facebook plunge tens of millions of dollars into the struggling local news sector.
The US digital firms will, for now, avoid being subjected to mandatory payments that could cost them vastly more and create what they see as an alarming global prescient.