A major legislation is coming in a country where Facebook and Google will have to pay for collecting media news.

The country is Australia. It is here where the government is in the process of incorporating legislation in Parliament today(Wednesday) that would make Facebook and Google pay for journalism.

Already, AustraliaTreasurer Josh Frydenberg has gone on record saying that the legislation to create the 'News Media Bargaining Code' will be scrutinized by a Parliamentary Committee following its introduction and before lawmakers vote on it in 2021.

This is a huge reform, a world first. And the world is watching what happens here in Australia,it is understood. PTI based on the AP report thinks that this is comprehensive legislation that has gone further than any comparable jurisdiction in the world.

As per the AP report, Frydenberg thinks those broadcasters would be paid under the latest draft legislation like commercial media businesses. In response, Facebook has warned it might block Australian news content rather than pay for it.

Google has said the proposed laws would result in dramatically affecting  Google Search and YouTube, put free services at risk and it could lead to users' data being handed over to big news businesses.

On the other hand, Frydenberg informed that Google was taking 53 per cent of online advertising dollars and Facebook took a 23 per cent share.

As per the AP report from Canberra(Australia)Michael Miller, Executive Chairman of News Corp Australia, one of Australia's largest media organisations, described the draft legislation as a significant step forward in the decade-long campaign to achieve fairness in the relationship between Australian news media companies and the global tech giants.

"All we have ever sought is a fair commercial outcome and fair payment for the valuable news content our journalists create", AP quotes Miller having said in a statement." I believe this code puts in place the framework for this to be achieved."   

Notably, neither Facebook nor Google immediately responded to a request for comment on Tuesday.