I only have a superficial understanding of the legislation, but my impression is the opposite - it requires Google/Facebook to enter into good faith negotiations with news organisations that can choose to negotiate individually or collectively.
There's a Q&A from the ACCC (Australian Competition and Consumer Commission) that drafted the code:
> How would the code benefit smaller, regional and rural news media businesses?
>The bargaining power imbalance between news media businesses and the digital platforms is particularly acute for smaller, regional and rural news media businesses. The draft code would allow news media businesses to bargain with a digital platforms either individually or (more likely) as part of a collective. Bargaining as part of a collective would allow smaller news media businesses to negotiate from a stronger position than negotiating individually. Collective bargaining is likely to also reduce costs for individual news media businesses, and allow groups to pool resources and expertise during the negotiation process.
There's a Q&A from the ACCC (Australian Competition and Consumer Commission) that drafted the code:
https://www.accc.gov.au/system/files/DPB%20-%20Draft%20news%...
> How would the code benefit smaller, regional and rural news media businesses?
>The bargaining power imbalance between news media businesses and the digital platforms is particularly acute for smaller, regional and rural news media businesses. The draft code would allow news media businesses to bargain with a digital platforms either individually or (more likely) as part of a collective. Bargaining as part of a collective would allow smaller news media businesses to negotiate from a stronger position than negotiating individually. Collective bargaining is likely to also reduce costs for individual news media businesses, and allow groups to pool resources and expertise during the negotiation process.