Europe's agencies blast Google, FB

Europe's biggest news agencies yesterday accused Google and Facebook of "plundering" news for free in a joint statement that called on the internet giants to share more of their revenues with the media.

In a column signed by the CEOs of around 20 agencies including France's Agence France-Presse, Britain's Press Association and Germany's Deutsche Presse-Agentur they called on the European Parliament to update copyright law in the EU to help address a "grotesque imbalance".

"The internet giants' plundering of the news media's content and of their advertising revenue poses a threat both to consumers and to democracy," the column said.

European Parliament lawmakers are to set to debate a new copyright law this month that would force the internet giants to pay more for creative content used on their platforms.

A first draft of the law was rejected in July and the plans have been firmly opposed by US tech firms, as well as advocates of internet freedom who fear that the regulations could lead to higher costs for consumers.

"Can the titans of the internet compensate the media without asking people to pay for access to the internet, as they claim they would be forced to? The answer is clearly 'yes'," the column said.

The joint statement from the agencies, which are major suppliers of news, photos and video, said Facebook reported revenues of $40 billion in 2017 and profits of $16 billion, while Google made $12.7 billion on sales of $110 billion.