Report on tech giant competition released

A report from the competition watchdog into tech giants will guide any government crackdown on the companies that have gobbled up traditional media’s revenue.

The Australian Competition and Consumer Commission will release its final report on its inquiry into digital platforms on Friday.

A preliminary version released in December made 11 recommendations, including calling for a regulator to be given far-reaching powers to investigate and monitor powerful tech giants including Google and Facebook in Australia.

Cabinet minister Mathias Cormann says the government will take its time going through what is expected to be a hefty report.

“There’s no doubt that technological change, the developments around search engines, social media platforms and digital content aggregators have had a significant impact on competition in the traditional media and advertising markets,” he told Sky News.

“It’s a matter now for judgments based on a thorough and comprehensive analysis of where things are as to what would be an appropriate response in a policy sense.”

In the preliminary report, the ACCC found that organisations like Google and Facebook were increasingly performing functions similar to media businesses but faced less regulation.

It also found that consumers were unable to make informed choices about the amount of personal data collected and used by the digital tech giants.

AAP

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