The revenue-sharing laws were a scam, basically the Government forcing Google and Facebook to pay arbitrary bribes to a few big media companies.
If the laws weren't a scam, that money would have gone to pay for journalism, not prop up the bottom line of companies which are consistently cutting back the number of journalists under their employ.
My advice to any future Federal Government would be to gut the ACCC and rebuild it from the ground up. And then if the rebuilt entity demonstrates competence, significantly increasing its funding.
If the laws weren't a scam, that money would have gone to pay for journalism, not prop up the bottom line of companies which are consistently cutting back the number of journalists under their employ.