The Australian government has announced that there has been significant progress in the negotiations with Google and Facebook to pay domestic media companies for news. This comes after the Australian treasurer held talks with the two platforms over the weekend and ahead of Australia's expected passage of its News Media Bargaining Code.

Google and Facebook have been opposed to the proposed code, with the two companies making threats to limit or remove their services entirely in the country. Australia's parliament is scheduled to consider the draft laws this week after a Senate committee last week recommended no changes to the legislative text.

While Google and Facebook can afford to pay for the Australian news they link to, they are concerned about the precedent the Australian legislation could set globally.