Facebook closer to media deals as it weighs backdown on 'poison pill' clauses

Facebook is one step closer to striking deals with some of Australia’s largest media companies after conceding it could change or remove previously non-negotiable “poison pill” clauses in contracts that would allow the tech giant to walk away from any deals.The $764 billion ($984 billion) tech giant has been trying to strike commercial deals with large media outlets such as News Corp Australia, The Guardian’s local operations, the ABC and Nine Entertainment Co for use of news articles on its platform for several weeks to avoid being punished under new media bargaining laws. It has failed to do so because of the inclusion of clauses that allow it to blow up the agreements at any point in time.Talks between some media companies and Facebook are finally progressing.Credit: Industry sources who spoke anonymously because talks are confidential said Facebook has now told media companies it may be able to remove or change these provisions, a sign that it may strike deals in a matter of weeks if there is enough money on the table. The “poison pill” clauses were previously considered non-negotiable for the tech giant and raised concerns among media companies that attempts to strike deals were not genuine. Facebook…
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