Google Agrees to $73 Million Annual Payment to Canadian News Outlets
Date: 2023-12-01 Author: Dima Zakharov Categories: TECHNOLOGY
The Agreement Details:
Under the agreement, Google will pay $73.6 million per year, or 100 million Canadian dollars, to news publishers in Canada. This deal resolves Google's apprehensions about Canada's online news law, designed to compel large internet companies to share advertising profits with news publishers in the country.
Compliance with Canada's Online News Law:
The Minister of Canadian Heritage, Pascal Saint-Onge, announced the positive outcome, stating, "After weeks of productive discussions, I am pleased to announce that we have found a way forward with Google to implement the Online News Law."
Legislative Background:
The Online News Law, passed in June, seeks to make internet giants pay for news. The Canadian government is finalizing rules expected to be published by December 19th.
Google's Commitment:
Kent Walker, President of Alphabet, Google's parent company, expressed satisfaction, saying, "After extensive discussions, we are pleased that the Canadian government has committed to addressing our key concerns through Bill C-18."
Annual Adjustment and Inflation Considerations:
As per the agreement with Canada, Google will annually adjust the 100 million Canadian dollars, considering inflation, for news companies.
Under the agreement, Google will pay $73.6 million per year, or 100 million Canadian dollars, to news publishers in Canada. This deal resolves Google's apprehensions about Canada's online news law, designed to compel large internet companies to share advertising profits with news publishers in the country.
Compliance with Canada's Online News Law:
The Minister of Canadian Heritage, Pascal Saint-Onge, announced the positive outcome, stating, "After weeks of productive discussions, I am pleased to announce that we have found a way forward with Google to implement the Online News Law."
Legislative Background:
The Online News Law, passed in June, seeks to make internet giants pay for news. The Canadian government is finalizing rules expected to be published by December 19th.
Google's Commitment:
Kent Walker, President of Alphabet, Google's parent company, expressed satisfaction, saying, "After extensive discussions, we are pleased that the Canadian government has committed to addressing our key concerns through Bill C-18."
Annual Adjustment and Inflation Considerations:
As per the agreement with Canada, Google will annually adjust the 100 million Canadian dollars, considering inflation, for news companies.
