More Americans now turn to social media for their news than ever before, a trend that shows no sign of slowing. Yet as feeds fill with headlines and breaking updates, the very institutions that produce those stories are collapsing. Newsrooms generate the reporting that fuels online engagement, but they receive little to no compensation when their work is repackaged and monetized by tech platforms. As this imbalance deepens, shuttered newsrooms become the inevitable consequence of a system where journalism is treated as disposable by Big Tech.

Two of America’s closest allies have already taken bold steps to confront this imbalance. Australia pioneered the News Media Bargaining Code in 2021, empowering regulators to force platforms into arbitration if they refused to strike fair deals with

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