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President-elect Donald Trump was upbeat at his first post-election press conference Monday, saying there was a big difference between now and when he took office in 2016: Some of his former adversaries are now being nice to him. The remarks were Trump's first news conference since he won the election and the first event he has hosted himself since November. Trump referenced recent meetings with Apple CEO Tim Cook, Alphabet and Google CEO Sundar Pichai and former Alphabet President Sergey Brin. "I mean, I'd have to see it, because I don't know the facts." Trump's press conference was his first one since winning the 2024 election, though he has attended other organizations’ events, attended a SpaceX test launch, and gone to numerous sporting events.

Persons: Donald Trump, “, ”, Trump, Trump's, Tim Cook, Sundar Pichai, Sergey Brin, Jeff Bezos, —, Bezos, Elon Musk, Vivek Ramaswamy, David Sacks, Jacob Helberg, Eric Adams, Brian Thompson, Luigi Mangione, TikTok, ” Trump, Kamala Harris, Biden Organizations: Apple, Amazon, Big, Twitter, Facebook, Google, The Washington Post, Pentagon, Department of, New, New York City, Des Moines Register, SpaceX, ”, Trump Locations: Lago, U.S, New York, New Jersey

☆ After the Skydance-Paramount merger and Comcast spinoff, these are the media deals industry insiders think could be next
▼ + stars: | 2024-12-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Media and entertainment insiders expect an uptick in industry M&A in 2025. Insiders identified the deals they think are most likely to happen in 2025 and beyond. AdvertisementWith several buzzy media and entertainment deals already planned for 2025, industry insiders say next year could see a flurry of M&A activity. AdvertisementBoth the Comcast and Paramount deals are expected to close in the second half of 2025. Business Insider spoke with half a dozen media and entertainment investors, bankers, and advisors who speculated about the deals they think could happen in 2025 and beyond.

Persons: Skydance Media's, Jonathan Miller, Miller, David Ellison's, LeBron James, Alex Iosilevich Organizations: Comcast, Skydance, Bankers, Integrated Media, CNBC, MSNBC, Paramount Global, CBS News, MTV, Nickelodeon, Paramount, Big Tech, Warner, NBA Locations: SpringHill

☆ 'Tis the season for small caps starting right now, says BTIG
▼ + stars: | 2024-12-16 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Small-cap stocks can make a smart holiday gift for investors, and now looks like the time to buy the dip, according to BTIG. The small-cap Russell 2000 seems to be running out of steam as the end of the year approaches, with the index down nearly 3% in December. .RUT 1M mountain The Russell 2000, a benchmark index of small cap stocks, is down in December. Small-cap stocks have had several strong periods throughout 2024, but they have proven to be short-lived. However, the shift doesn't mean that the historical pattern for small caps will be broken this year, according to Krinsky.

Persons: Russell, Jonathan Krinsky, It's, Krinsky Organizations: Nasdaq, Leadership, Big Tech, RSP

☆ Kilburg: May be time to cut some exposure to mega-caps in 2025
▼ + stars: | 2024-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKilburg: May be time to cut some exposure to mega-caps in 2025KKM Financial's Jeff Kilburg says it may be time to trade in some profits on big tech for industrials and materials stocks.

Persons: Jeff Kilburg

☆ Morgan Stanley names 7 beneficiaries of Amazon AWS’ new Trainium 2 AI chip
▼ + stars: | 2024-12-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Morgan Stanley has identified the companies that are set to benefit from Amazon 's launch of its new artificial intelligence chip. The Big Tech giant's cloud computing division Amazon Web Services launched its Trainium 2 AI chip earlier this month. AWS hopes these chips will help it diversify away from Nvidia , its primary AI chip supplier. Morgan Stanley believes seven companies, all based in Taiwan, are expected to be "major beneficiaries" of a widespread deployment of AWS' new chip. They are expected to be built by chipmaker TSMC and will be designed by Taiwanese firm Alchip , according to Morgan Stanley analyst Charlie Chan.

Persons: Morgan Stanley, Hai, King, chipmaker TSMC, Charlie Chan, — CNBC's Michael Bloom Organizations: Amazon, Big, Amazon Web Services, Nvidia, Big Tech, Microsoft, Google, Nvidia's, AWS, Gold Circuit Electronics, Asia Vital, Delta Electronics Locations: Taiwan, Asia

☆ Trump says Big Tech CEOs like Tim Cook have been the 'opposite of hostile' ahead of his 2nd term: 'My personality changed or something'
▼ + stars: | 2024-12-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

President-elect Donald Trump said on Monday that major tech CEOs want to meet with him ahead of his second term, showcasing how an industry that once spurned him is now supportive. Advertisement"One of the big differences between the first term, in the first term, everybody was fighting me," Trump told reporters during a news conference. Big Tech executives like Apple CEO Tim Cook, Amazon CEO Jeff Bezos, and Alphabet CEO Sundar Pichai have or are expected to visit Mar-a-Lago to meet with the president-elect. The series of meetings follows an election season that saw some major names in Silicon Valley embrace Trump, including, most notably, Elon Musk. Many in the business community, including tech, were skeptical of Trump's first term.

Persons: Donald Trump, Trump, Tim Cook, Sundar Pichai, Jeff Bezos, Elon Musk, David Sacks, Trump's, Musk, Armour, Cook Organizations: Trump, Mar, Big Tech, Apple, Department of Government, Intel, Merck, White, IBM, Walmart Locations: Amazon, Silicon, Paris, Charlottesville , Virginia

☆ CEOs wanted Biden’s top business regulator gone. They’re about to get their wish
▼ + stars: | 2024-12-15 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

Portrait of Andrew N. Ferguson Federal Trade Commission“At the FTC, we will end Big Tech’s vendetta against competition and free speech,” Ferguson posted to Xon Tuesday. Consolidation in tech makes it easier for governments to pressure social media companies to take down content, Ferguson told Missouri Republican Sen. Eric Schmitt. Schmitt, as the state’s attorney general in 2022, led a high-profile lawsuit about alleged social media censorship that wound up before the Supreme Court in its last term. Ferguson has weighed in on social media speech in other ways, too. In a June interview with the Mercatus Center, a libertarian think tank, Ferguson defended some initiatives spearheaded by Khan’s FTC.

Persons: Lina Khan, Trump, Donald Trump, Andrew Ferguson, Mark Meador, Utah Republican Sen, Mike Lee, Ferguson, Mitch McConnell, Khan, “, ” Ferguson, Meta, It’s, Andrew N, Missouri Republican Sen, Eric Schmitt, Schmitt, anticompetitive, ” Organizations: Federal Trade Commission, Business, Utah Republican, Big Tech, Google, Republican, FTC, Republicans, Amazon, Justice Department, Ferguson Federal Trade Commission, Missouri Republican, Biden, Supreme, Mercatus, Khan’s FTC Locations: America, Virginia, Missouri, Louisiana, what’s

☆ Donating to Trump's inauguration is a last-minute chance for tech moguls to make nice
▼ + stars: | 2024-12-15 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

Big Tech companies and CEOs are already lining up six-figure donations to Donald Trump's inauguration. There are virtually no limits on inaugural donations, meaning Big Tech companies can cut massive checks. Big Tech companies and the moguls behind them are preparing to make six-figure donations to President-elect Donald Trump's inaugural committee. This time, Trump's inaugural offers one final major opportunity for CEOs to curry influence with the president-elect at his peak. AdvertisementRepresentatives for Amazon, Meta, and Trump's inaugural did not immediately respond to a request for comment from Business Insider.

Persons: Donald Trump's, Sam Altman, Jeff Bezos, Mark Zuckerberg's Meta, Trump's, Craig Holman, Holman, you've, Jeff Hauser, Sheldon Adelson, Trump, OpenSecrets, Obama, Hauser, Mark Zuckerberg, Hunter, Zuckerberg, Priscilla Chan, Bezos, Kamala Harris, Altman, Elon Musk, Joe Biden's, Biden Organizations: Big Tech, Meta, Public Citizen, Vegas Sands, Trump's, Trump, Tech, Google, York, Amazon, Washington, Microsoft, The New York Times DealBook Summit, America, Business Locations: Washington, Trump's Washington

☆ Here's UBS' 4-part investing strategy to capitalize on the AI wave and drive gains in 2025
▼ + stars: | 2024-12-15 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

For UBS, a new year means a new AI investing playbook. UBS predicts that AI will become a trillion-dollar industry before the end of the decade. UBS predicts that industries such as healthcare, cybersecurity, and fintech in particular will see new revenue streams from AI. UBS predicts that the AI landscape is trending toward "an oligopoly of vertically integrated 'foundries' and monolithic players." As AI technology develops, investors should also diversify their AI holdings.

Persons: Mark Haefele, Haefele, It's, That's, it's Organizations: UBS, Microsoft, UBS Global Wealth Management, Invest, Big Tech, Private

WASHINGTON — President-elect Donald Trump tapped Harmeet Dhillon, a Republican lawyer known for championing conservative causes and the Republican national committeewoman for California, to lead the U.S. Department of Justice’s Civil Rights Division. Wiley added, “Dhillon has focused her career on diminishing civil rights, rather than enforcing or protecting them. Conservative allies have spent the week cheering Dhillon’s nomination, expressing optimism that she will lead the division away from the priorities of the Biden administration. “The civil rights division is going to be better off for having her there. Warrington has also represented Trump in civil lawsuits stemming from the January 6 riot.

Persons: Donald Trump, Harmeet Dhillon, “, ” Trump, Trump, Dhillon, ’, ” Dhillon, ”, Maya Wiley, Gavin Newsom’s, Tucker Carlson, Kaiser, Wiley, “ Dhillon, Ronna McDaniel, Kristen Clarke, Pam Bondi, Todd Blanche, Emil Bove, John Sauer, Biden, institutionalize, Roger Severino, Mark Geragos, California’s, David Warrington Organizations: WASHINGTON, Republican, U.S . Department of Justice’s Civil Rights Division, Trump, Calif, Conference, Civil, Human, California Gov, Fox News, Kaiser Permanente, Sikh Coalition, Justice Department, Conservative, DOJ, Heritage Foundation, NBC, Dhillon Law, White, Warrington, Colorado Supreme, U.S, Supreme Locations: California, San Francisco, San Jose, Arizona, India, American, Angeles, Warrington

☆ 5 new AI products worth trying from the avalanche of announcements this week
▼ + stars: | 2024-12-14 | by ( Sarah Jackson | ) www.businessinsider.com time to read: 1 min

It was an overwhelming week in AI product launches. OpenAI's 12 Days of "Shipmas" continued, Google launched a host of AI products, and new Apple Intelligence features arrived. Here are 5 of the most helpful AI tools announced this week to consider giving a try. AdvertisementThere was a deluge of AI announcements this week as Big Tech pushed out releases and announcements ahead of the holidays. AdvertisementHere are 5 of our recommendations from the last week that you might find helpful in your day-to-day life.

Organizations: Google, Apple Intelligence, Big Tech

☆ I worked in Silicon Valley for a decade. Here are 9 ways I managed stress and boosted productivity.
▼ + stars: | 2024-12-14 | by ( Robin Madell | ) www.businessinsider.com time to read: +5 min

Regina Grogan is a tech exec who says high stress once impacted her mental health and relationships. AdvertisementI worked in high-stress Silicon Valley for over 10 years, including as a Google consultant, before transitioning to being an associate security engineer at one of the largest banks. Over the years, I've discovered hacks to mitigate stress, boost my mood, and increase productivity. Ever since I started using these hacks, I've been in a great mood and more productive than everMy colleagues always talk about my energy and good mood. If you work in Big Tech and have productivity hacks you'd like to share, please email Tess Martinelli at tmartinelli@businessinsider.com.

Persons: Regina Grogan, Grogan, It's, I've, panicking, ender, Tess Martinelli Organizations: Big Tech Locations: Salt Lake City, Epsom, tmartinelli

☆ Big Oil wants to help Big Tech power artificial intelligence data centers
▼ + stars: | 2024-12-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Exxon Mobil and Chevron are jumping into the race to power artificial intelligence data centers, as the two oil majors bet tech companies will ultimately turn to natural gas to meet their tremendous energy needs. Exxon unveiled plans this week to build a natural gas plant to power a data center. The oil major estimates decarbonizing AI data centers could represent up to 20% of its total addressable market for carbon capture and storage by 2050. Chevron is also working on ways to power data centers, said Jeff Gustavson, president of the oil company's new energy business, at the Reuters NEXT conference on Wednesday. Chevron is a major national gas producer with power generation equipment and very large tracts of land that could be used for data centers, the executive said.

Persons: Kathryn Mikells, Mikells, Jeff Gustavson, Gustavson Organizations: Exxon Mobil, Chevron, Exxon, Wall Street, Reuters

☆ Here are the deals the 'AI arms race' could drive in 2025, according to 4 bankers from Goldman Sachs, BofA, and Axom Partners
▼ + stars: | 2024-12-13 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Bankers anticipate more AI dealmaking to benefit data and infrastructure companies. Tech companies focusing on managing, moving, and securing data will be at the forefront of the AI M&A wave. The gap between buyer and seller price expectations is shrinking as companies, AI ones included, reset their valuations. It's something even the biggest AI companies are opening their wallets for. Some cross-sector actionWhile most of the AI and AI-related deals will likely be between tech companies, Goldman's Min anticipates some transactions in the industrial space.

Persons: Goldman Sachs, Neil Kell, Brandon Hightower, hasn't, Scott Denne, Trump's, Andrew Ferguson, Ferguson, Jung Min, America's Kell, Min, Axom's Hightower, Axom, Rockset, Alan Bressers, you've, It's, There's, Axom's Bressers Organizations: Bankers, Bank of America, Partners, Bank of, Companies, Axom Partners, Tech, P Global Market Intelligence, Research, Federal Trade Commission, Big Tech, Wedbush Securities, Bank, Nvidia, Lambda Locations: Snowflake, Seattle

☆ CEOs and companies are breaking out their wallets for Trump, from Sam Altman to Jeff Bezos and Mark Zuckerberg
▼ + stars: | 2024-12-13 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

OpenAI CEO Sam Altman was the latest to give $1 million to Trump's inaugural fund. Tech leaders are angling to get or stay in his good graces and help shape his administration's tech policy. The president-elect is receiving donations to his inaugural fund from the likes of Mark Zuckerberg through Meta, Jeff Bezos through Amazon, and OpenAI CEO Sam Altman. AdvertisementMeta confirmed to BI earlier this week that it's donating $1 million to Trump's inaugural fund. Spencer Platt/Getty ImagesZuckerberg and Trump shared dinner at Mar-a-Lago last month months after Trump had threatened to imprison Zuckerberg if re-elected.

Persons: Donald Trump, Sam Altman, Donald Trump's, Mark Zuckerberg, Jeff Bezos, Meta, it's, OpenAI's Altman, Altman, OpenAI, Trump, —, Sundar Pichai, Spencer Platt, Zuckerberg, Nick Clegg, Bill Ackman, Jane Fraser, Brian Cornell, Michael Miebach, Goldman Sachs, David Solomon, Hans Vestberg Organizations: Tech, Meta, Amazon, Financial, Fox News, Trump, White House, Big Tech, CNBC, Google, Justice Department, Chrome, New York Stock Exchange, Getty, Mar, Lago, Pershing, Citigroup, Mastercard, Verizon Locations: Mar

☆ The average startup CEO now makes $132,000, down from $142,000 last year
▼ + stars: | 2024-12-13 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +6 min

AdvertisementKruze Consulting, which provides accounting services to early-stage, VC-backed companies, released a study showing that the average seed-stage founder who is also a startup CEO makes $132,000 a year. The consultancy recently analyzed 450 of its seed-stage startup clients' payroll records to determine the average base salary for different jobs at early-stage companies. Kruze's study says that employee compensation accounts for around 75% of the total operating costs for its startup clients. According to Kruze's analysis of its early-stage startup payrolls, engineers can make anywhere between $65,000 and $235,000 annually. Equipment such as laptops and work stations cost startups between $2,500 and $3,000 per employee, Kruze's data found.

Persons: Kruze Organizations: Kruze Consulting, Kruze, CPO, Engineers, Francisco Market, Major Tech, San Francisco Market, Big, Austin Locations: Austin, Big Tech

☆ Google is taking on Apple with a XR headset
▼ + stars: | 2024-12-13 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

CNN —Google and Samsung are stepping into the wearable headset race. The Samsung headset will be the first product powered by the new Android operating system for XR before the new OS becomes available for other companies to use in their own devices. Android for XR — an umbrella term for various types of virtual and augmented reality — was built in collaboration by Google, Samsung and Qualcomm and will be able to power hardware devices like headsets and glasses. A customer tries on the Apple Vision Pro headset during the product launch at the Apple Store in New York City on February 2, 2024. The Vision Pro, the tech giant's $3,499 headset, was its first major release since the Apple Watch nine years ago.

Persons: Ted Mortonson, Baird, “, ” Mortonson, Mortonson, Angela Weiss, Scott Kessler, We’re, ” Kessler, Dan Ives, ” Ives, Joon Choi, ” Choi, Kessler, “ We’ve, ”, Baird’s Mortonson Organizations: CNN, Google, Samsung, Apple’s, Meta, Vision, Qualcomm, Apple, Apple Watch, Getty, Wedbush Securities, Gemini, Connect, Big Tech Locations: New York City, Menlo Park , California

☆ New AI winners beyond Big Tech are set to emerge, UK fund manager predicts
▼ + stars: | 2024-12-13 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +4 min

The AI revolution is "the biggest platform shift since electricity" and, as such, will bring investment opportunities in smaller tech firms that are climbing ever nearer to the Big Tech behemoths, according to one U.K.-based fund manager. Many of those tech firms she says are ripe for investment work on AI applications, which the fund manager describes as an emerging club of high-value firms, and one of a number of different layers growing within the wider AI industry. "This year we've been really focused on the AI infrastructure layer of this new technology stack," she said. "So, the Broadcom 's, the Amphenol 's, the Arista 's of this world, these are all really crucial components to scale this AI infrastructure. Nvidia has been the primary beneficiary of the ongoing artificial intelligence boom, with its next-generation AI chip Blackwell now in focus.

Persons: Clare Pleydell, CNBC's Arjun Kharpal, Bouverie, you've, It's, Steve Jobs, Blackwell Organizations: Big Tech, Liontrust Asset Management, Apple, Meta, Microsoft, Nvidia, Tesla, Materials, Broadcom, Arista

☆ Tech previews their Trump 2.0 playbook
▼ + stars: | 2024-12-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTech previews their Trump 2.0 playbookCNBC's Deirdre Bosa joins 'The Exchange' to report on Big Tech's donations to Donald Trump's inauguration and how it could be a preview of the relationship under the president-elect's new term.

Persons: Deirdre Bosa, Donald Trump's Organizations: Tech, Trump, Big

☆ Anyone can give Donald Trump $1 million. The pros do it in public.
▼ + stars: | 2024-12-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

It's not new for rich people and big companies to donate to presidential inaugurations. That's at least in part because it's so public — the money is less important than the message. They're all donating $1 million to Donald Trump's inauguration fund. Which is why we can see it's also not unheard of for Big Tech companies to make inaugural donations. AdvertisementThere's also the fact that while Trump and his allies continue to insist that they want to cut regulations, they also insist that they'll be cracking down on Big Tech.

Persons: It's, Mark Zuckerberg, Jeff Bezos, Mark Zuckberg, Sam Altman, Donald Trump's, Sundar Pichai, wouldn't, Trump's, Joe Biden's, Uber, Altman, Trump, —, Zuckerberg, Bezos, There's, Donald Trump, Tim Cook, I've, Cook Organizations: Trump, Big Tech, Microsoft, Google, Washington, Apple

☆ Tech companies most threatened by Trump are donating to his inauguration fund
▼ + stars: | 2024-12-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos have a particularly sketchy past with President-elect Donald Trump. Meta donated $1 million to the inauguration, the company confirmed to CNBC, weeks after Zuckerberg dined with Trump privately at his Mar-a-Lago resort. Trump has been a vocal critic of tech companies, and he signaled earlier this month that he won't shy away from antitrust enforcement. The incoming president nominated Gail Slater, who advised Trump on tech policy during his first term, to head the Department of Justice's antitrust arm. In his first term, Trump repeatedly attacked Bezos and his companies, Amazon and The Washington Post, accusing them of dodging taxes or publishing "fake news," among other things.

Persons: Donald Trump, Mark Zuckerberg, Jeff Bezos, Sam Altman, Elon Musk, Trump, " Altman, Altman, Meta, Zuckerberg, Gail Slater, Bezos, Trump's Organizations: National Guard Association of, United States, 146th General Conference & Exhibition, Place, Amazon, America, CNBC, Trump, Wall Street, Tech, Little Tech, Truth, Meta, Washington, U.S . Postal Service, Department of Defense, Musk's SpaceX Locations: United, Detroit , Michigan, Lago, Little

☆ Here are 7 key moments from Jim Cramer's interview of Donald Trump from the NYSE
▼ + stars: | 2024-12-12 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

President-elect Donald Trump told CNBC's Jim Cramer on Thursday the stock market is "going to see a lot of good days ahead." Jim interviewed Trump on the floor of the New York Stock Exchange moments after the president-elect rang the opening bell. In their wide-ranging discussion, Trump said the performance of the stock market is "very important" to him. Here are seven key moments from Jim's Trump interview: Jim : What would you say to the American investor? Trump : "The stock market, all of it together, is very important."

Persons: Donald Trump, CNBC's Jim Cramer, Jim, Trump, Elon Musk, Jim's Trump, we'll, Mark Zuckerberg's, Jeff Bezos, Jim Cramer, he's Organizations: New York Stock, Trump, Dow, Nasdaq, SpaceX, Elon, NYSE, RFK Locations: USA, China, U.S

☆ No one wants to own cable TV networks anymore
▼ + stars: | 2024-12-12 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

If so, consider that the people who own cable TV networks seem increasingly uninterested in hanging on to them. That's the real story behind WBD's corporate maneuvering Thursday — to make a cable TV spin-off or sale much more likely. Comcast is ditching its cable TV networks. That's because Comcast's spun-off cable TV operation will want to find other cable TV networks to add to its collection, so it can increase negotiating power. (Just Thursday, Google said it was hiking the price of its YouTube TV cable bundle by 14%.)

Persons: WBD, WBD execs, Comcast's, Donald Trump's, David Zaslav Organizations: Comcast, Warner Bros, TNT, Food Network, Trump, Big Tech, Big Media, Google, YouTube Locations: Big

☆ Warner Bros. Discovery separates TV networks from its streaming and studio business
▼ + stars: | 2024-12-12 | by ( Geoff Weiss | Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery is splitting its linear TV business from streaming and studios. Comcast last month also spun off its cable networks — except Bravo — into a stand-alone company. The moves illustrate a cable business in decline, with both repositioning for M&A opportunities. Discovery is separating its linear television business from its streaming business and film studios. AdvertisementA new Global Linear Networks division will house TV properties like the Discovery Channel and CNN, while the Streaming & Studios side will be the home of Max and movie studio Warner Bros. Motion Picture Group.

Persons: WBD, Max, David Zaslav Organizations: Warner Bros, Comcast, Bravo, WBD, Networks, Discovery Channel, CNN, Studios, Scripps Networks, Big Tech, HBO, Industry, Paramount Global

☆ Tech giants like Meta, Google to be forced to pay for Australian news
▼ + stars: | 2024-12-12 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Sydney Reuters —Australia plans new rules to “create a financial incentive” for big tech firms to pay Australian media companies for news content on their platforms, Assistant Treasurer and Minister for Financial Services Stephen Jones announced on Thursday. The move, described as a “news bargaining initiative,” piles pressure on global tech giants like Facebook-owner Meta Platforms and Google to pay publishers for content or face the risk of paying millions to continue operations in Australia. The platforms at risk of the charge will be significant social media platforms and search engines with an Australian-based revenue in excess of 250 million Australian dollars (about $160 million), he said. The charge will be offset for any commercial agreements that are voluntarily entered into between the platforms and news media businesses, he added. Australia in 2021 passed laws to make the US tech giants, such as Alphabet’s Google and Meta, compensate media companies for the links that drive readers - and advertising revenue - to their platforms.

Persons: Financial Services Stephen Jones, ” Jones, Jones, Meta Organizations: Sydney Reuters, Financial Services, Facebook, Meta, Google, News Corp, Australian Broadcasting Corp Locations: Australia, Australian

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