Facebook and Google will be hit with tough new laws in Australia as the government seeks to limit their market power, curb their dominance of the online advertising industry, and boost privacy protections for individuals.

A long-awaited report into digital platforms released Friday by the Australian government’s antitrust regulator concluded that the companies wielded too much influence over Australia’s news and advertising markets, stifling competition, and deprived consumers of control over their personal information.

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