France goes the Australia route

That is, the underhanded tax and subsidy without taxing and subsidising:

“France's antitrust watchdog slapped a 500 million euro ($593 million) fine on Alphabet's Google on Tuesday for failing to comply fully with temporary orders the regulator had given in a row with the country's news publishers.

The U.S. tech group must come up with proposals within the next two months on how it would compensate news agencies and other publishers for the use of their news. If it does not do that, the company would face additional fines of up to 900,000 euros per day.”

Google will do what it did in Australia and strike confidential deals with French publishers to avoid the fines. It’s nothing more than a shakedown, with some of Google France’s revenue to be transferred to a few local media organisations, paid for by the French taxpayer (whatever Google ‘compensates’ news agencies with will be fully tax deductible against its local earnings) and increased barriers to entry for potential media competitors. 👏