The decision comes after negotiations between the tech giant and the Australian government, which is set to pass a new media law requiring digital platforms to pay for news.
Facebook said: After further discussions, we are satisfied with the Australian government’s approval of a number of changes and guarantees that address our core concerns about permitting business deals that recognize the value our platform provides to publishers in relation to the value we receive from them.
“As a result of these changes, we can now work to increase our investment in public interest journalism and restore news on Facebook to Australians in the coming days,” she added.
Prime Minister Scott Morrison’s government made last-minute changes to the news media bargaining bill proposed in Parliament and is expected to be voted into law soon.
If passed, the law would make digital platforms pay local media and publishers to link their content to news feeds or search results.
Under amendments to the proposed bill, the Australian government will take into account trade agreements that digital platforms have entered into with local news media companies before deciding whether the law applies to the tech giants.
The government is also providing a notice to the digital platforms a month in advance of reaching a final decision.
It also includes a two-month mediation period to allow digital platforms and publishers to mediate deals before they take place, to enter arbitration as a last resort.
The arbitration clause was one of Facebook’s main objection points, and the bill stipulates that if the parties cannot reach a commercial deal, then government-appointed arbitrators can decide on the final price by ruling in favor of either party with no room for compromise.
The government said: It is expected that Tuesday’s amendments will provide more clarity for digital platforms and news organizations about how to implement the bargaining law.
The government added that this also adds more momentum for the parties to participate in trade negotiations outside the media bargaining law.