This could mean a significant drop in traffic for many independent publishers who rely on Meta for a large portion of their site traffic. For news in general, the removal of verified news sources could give a larger voice to those on the platforms that want to spread fake news and misinformation.

Zero’s general manager Nick Splitter says very little is currently known about whether Meta will definitely go ahead with these plans, who will be affected, and when we can expect to see these changes

The Joint Select Committee has been appointed to inquire into and report on the influence and impacts of social media on Australian society, including a review of the News Bargaining Code. The terms of reference are broad and address the need to protect children, the damage done by harmful content and scams, the important role of journalism in countering misinformation, the role of algorithms, and the decision of Meta to withdraw from the News Media Bargaining Code.

Key dates for the Joint Select Committee inquiry:

• 28th June – Final submissions due
• 15th August – Interim report due
• 18th November – Final report due

The terms of reference are broad. They encompass the need to protect children, the harm caused by harmful content and scams, the vital role of journalism in countering misinformation and disinformation, the role of algorithms, and Meta's decision to withdraw from the News Media Bargaining Code.