Google and Canadian PM Justine Trudeau's government reached an agreement about the new law that requires tech companies to pay Canadian news publishers for their content. Google agreed to pay $74 million, approximately CA$100 million, to provide annual financial support for a wide range of news businesses in Canada. According to a Fortune report, the deal concluded after months of "negotiations and strong oppositions" from tech giants like Google and Meta. The new Canadian act, Trudeau's Online News Act, also called Bill C-18, will reportedly force both Google and Meta to feature news content on the platforms and boost an industry with massive advertising revenue losses. Sam Altman Replies to OpenAI’s Post on X Saying, ‘Mission Always Comes First’ and 'There Were Real Misunderstandings’ Between Him and Board.
Google Agrees To Annually Pay $74 Million For Online News (Credit: Fortune):
Google blinks first in its war with Canada by agreeing to pay $74 million annually for online news. https://t.co/Q1h1C6SM7Q
— FORTUNE (@FortuneMagazine) November 30, 2023
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