• Ishaan kakkar

Google, Facebook nearing deals to pay for news: Australia said

Australia’s government said Google and Facebook Inc. are nearing agreements to pay domestic media companies for news, in a sign a regulatory standoff may be softening.

Australian Treasurer Josh Frydenberg held talks with Facebook Chief Executive Officer Mark Zuckerberg and Google counterpart Sundar Pichai over the weekend. “We’re very close to some very significant commercial deals," Frydenberg told the Australian Broadcasting Corp. on Monday, according to a transcript sent by his office. “We have made great progress."

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