In 2023, the two biggest American tech companies operating in Australia – Google and Facebook – generated almost $11 billion selling advertising to Australian businesses. Advertisement The gross Australian operating profits of the “big two” are now more than five times those of the combined print and online revenues of the news mastheads operated by Nine Entertainment and News Corporation (roughly $2.2 billion), the two companies that bear more than 90 per cent of the cost of original news generation in this country.