Communications Minister Paul Fletcher has blasted US tech behemoth Google for attempting to label Australian journalism as “big media” despite commanding a $US1200 billion market capitalisation.
“One of the things that struck me was this item that pops up when you do a google search refers to the ‘big media’ companies,” he told Sky News host Peter Stefanovic on Tuesday.
“Now let’s get some numbers in this debate. Google has a market capitalisation of 1200 billion US dollars
“The market capitalisation of News Corp – the biggest of the Australian news businesses – is $US9 billion. Nine Entertainment Ltd is $US2 billion.
“This language which attempts to characterise one side of this policy interaction as ‘big businesses’ – and by implication the other side not a big business, lets be clear this is about the proper commercial terms for dealings between news media businesses.”