The Albanese government has unveiled draft legislation in a media release on Tuesday.
The proposal states that multinational companies must strike deals with Australian news outlets in order to share content.
The proposed ‘News Bargaining Incentive’ imposes revenue-based charges on external companies to preserve the Australian journalism industry.
“This is a fix that we are putting forward,” Prime Minister Albanese said.
“There is no substitute for Australian news and stories told by Australian journalists.”
Under the legislation, companies such as Meta, TikTok, and Google would pay 1.5 per cent of revenue to Australian organisations if they strike deals and a 2.5 per cent cut if they refuse. 
Kiama Bugle managing editor Belinda Woodfield said it is important to prioritise local journalism in a multinational industry.
“It could really help level the playing field for regional and independent publishers.” Ms Woodfield said.
Consultations on the News Bargaining Incentive bill will continue until May 18.
