The federal government’s landmark news media bargaining code has been passed into law, with amendments negotiated by Facebook.

Treasurer Josh Frydenberg confirmed to Jim Wilson Facebook has promised to return Australian news to users’ feeds from Friday.

His many conversations with CEO Mark Zuckerberg were “respectful” and “constructive” despite their unusual nature, he said.

“For every hundred dollars that is spent [on online advertising], $81 goes to Google and Facebook.

“There are many eyes who are on us … we are now living in this world of digital revolution, and unless you have this level of regulation in a workable code, then it’s going to be very difficult for sustainable public interest journalism.”

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