I've got mixed feelings about the news media bargaining code but I don't think the lack of designations is one of its problems. Only stepping in once negotiations fail seems to be how the law is intended to operate. 52E(3) of the Competition and Consumer Act 2010 says that in making the designation that the code applies the minister must consider:
1. Whether a significant bargaining power imbalance exists.
2. Whether the platform has made a significant contribution to the sustainability of news media.
As to 1. the mere existence of the code seems to redress any power imbalance somewhat. As for 2. The actual deals Facebook and Google made in response to the law being enacted are confidential, but many news media companies said they were happy with the results so there wouldn't seem to be any reason to designate these organisations in the first place.
1. Whether a significant bargaining power imbalance exists.
2. Whether the platform has made a significant contribution to the sustainability of news media.
As to 1. the mere existence of the code seems to redress any power imbalance somewhat. As for 2. The actual deals Facebook and Google made in response to the law being enacted are confidential, but many news media companies said they were happy with the results so there wouldn't seem to be any reason to designate these organisations in the first place.