Abstract: News media is under pressure, and Meta’s refusal to renew deals with news publishers is not helping. As a result, we expect Meta to be “designated” under the News Bargaining Code and forced to deal – if only because the Government cannot afford to lose this first skirmish in what will be a long war. Meta returning to the negotiating table is not enough. The ACCC has identified structural problems in the programmatic ad market that will have to be addressed to ensure sustainability for the traditional media who dominate news publishing.