Not the point, but ok.
ABC want Facebook to pay ABC for ABCs content being shared on Facebook.
Facebook says no, not gonna happen,
ABC then gets the Australian government to start in on Facebook.
Facebook replies by banning ABC content.
What have I missed?
The Australian government asked the ACCC (independent industry regulator who is responsible for ensuring fair competition) to look into the impact of Big Tech on media three years ago.
They found that the digital advertising landscape was changing rapidly, and that Facebook and Google were capturing about 81% of all digital advertising revenue. This was having a massive negative impact on many 'traditional' media outlets.
At the same time, the content from those media outlets was being used by Facebook and Google without cost to those services.
They recommended a model to offset this lost revenue by a set of rules forcing Facebook and Google to negotiate with news services as away of those services recouping lost advertising revenue from the companies using their content.
A lot of Australian media services, ranging from Newscorp, down to tiny local newspapers, advocated for the government to adopt recommendations from the ACCC, and this has now occurred.
Polling...take it for what you will...has shown that a majority of Australian people want higher levels of regulation on Facebook (in particular), and big tech (generally).
I'm not sure this is the best way to achieve what they're trying to, but I can see the intent and rationale.