News Summary

• Australia unveils draft legislation to make Big Tech pay for local news.
• Google, Meta, and TikTok would be hit with a 2.25% levy if they don't strike deals with local publishers.
• The more deals they make with media outlets, the less they pay.
• If passed, the levy could generate between A$200 million and A$250 million back into Australian journalism.
• Meta VP of Communication Andy Stone said the proposal is “nothing more than a digital service tax”