Facebook parent Meta to stop paying Australian news media

SAN FRANCISCO - Facebook parent Meta announced it would no longer pay Australian media companies for news, prompting a government warning that the firm was in "dereliction" of past promises.

Extending a global retreat from news content, Meta said it would scrap the Facebook News tab in Australia and would not renew deals with news publishers worth hundreds of millions of dollars.

"People don't come to Facebook for news and political content," the firm said, explaining the move.

The decision had been on the cards but will come as a hammer blow for Australian news outlets already struggling to stay afloat.

Meta had previously announced it would not renew content deals with news publishers in the United States, Britain, France and Germany.

The social media giant had been pushed into paying for news by governments hoping to level the media playing field and support struggling news firms.

Media companies around the world have seen a decline in revenues for years, with advertisers flocking to popular digital platforms like Google and Facebook to reach consumers.