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An out and out shakedown — Australia news deal with Facebook makes little or no business sense

Maybe not. The case of Facebook and Australia is a warning that there may still be tough times to come. While O’Brien turned a €650m-plus investment into something closer to around €150m over his ownership tenure here, some of the lessons he didn’t heed may be on repeat down under. There, the newspaper industry is betting a portion of its future — and maybe some of the world’s media interests — on magic beans. In case you missed it, Facebook agreed to follow Google in bunging some...
New York United States Adrian Weckler Denis Obrien Rupert Murdoch New York Times

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