The Government’s proposed code to force news publishers and tech giants to the negotiating table have already brought about multi-million dollar agreements.
The code would ensure search engines and platform sites, like Google and Facebook, fairly pay news publishers for the use of their original content.
Seven West Media announced a $30 million deal with Google earlier this week.
"None of these deals would be happening if we didn't have the legislation before the Parliament," said Treasurer Josh Frydenberg.
The treasurer said, "This legislation, this world-leading mandatory code is bringing the parties to the table and is helping to pave a way forward where news media businesses are getting paid for generating original journalistic content."
Labor supports the Government’s proposal, meaning the legislation is likely to pass Parliament next week.