Got some breaking news now Facebook owner meta will not renew its deal with Australian news media organizations to pay for news content Executives running Australia's largest newsrooms were informed by meta via individual phone calls this morning they confirm that the deals worth around $70 million will not Be renewed after they expire this year this includes Sky News Australia over the past few months meta which owns Facebook Instagram and WhatsApp had knocked back efforts from news organizations to discuss new bargaining code deals in 2021 meta signed confidential deals to compensate Australian media outlets for their news Content those deals start to expire from the end of this financial year three years ago the government led by Josh frydenberg's push as Treasurer put in place groundbreaking laws forcing meta the owner of Facebook and Google to pay media companies for their content this is huge news in the world of media We'll seek to get some reaction from Josh fredenberg and others as soon as we can including the government hopefully speak to the communications Minister on that big news for the world of news and news media