This is the best summary I could come up with:

The federal government has put a price tag on what it would like to see Google and Facebook spend under an act requiring the tech giants to compensate media for news articles.

Draft regulations released by the government Friday outlined for the first time how it proposes to level the playing field between Big Tech and Canada's journalism sector.

Facebook and Instagram parent company Meta, which blocked news on its platforms in anticipation of the act coming into effect at the end of the year, immediately expressed its disappointment with the proposal.

"We're carefully reviewing the proposed regulations to assess whether they resolve the serious structural issues with C-18 that regrettably were not dealt with during the legislative process," Google spokesperson Shay Purdy said in response to the draft.

The two companies have long lobbied against the legislation, with Meta claiming news is a tiny fraction of its business and removing it would result in little revenue loss for the social networking giant.

Google's president of global affairs Kent Walker, meanwhile, has said the legislation "exposes us to uncapped financial liability" and claimed it's being targeted just because it shows links to news, "something that everyone else does for free."

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