I think the bill will lead to further litigation, specifically if a headline counts as reporting or explaining. I doubt a headline can investigate.
It does also seem to put a limit on a platform's ability to negotiate which is worrying. After 3 rounds of negotiations an arbiter can come in and decide what is a fair price and companies are not allowed to treat different news organizations differently. This seems to have room to abuse for me.
The counterpoint here is that this bill is very protectionist in nature and aims to give something to the Canadian news & media industry.
If that's the case, let Google do its own reporting and write its own headlines. It's not like it doesn't have the money. Problem solved.
They already capture most of the ad revenue.
And Google is notoriously bad when it comes to paying humans to investigate issues, as shown by their absent customer service.
Very often a headline is all someone needs or wants. That has value. Without anyone buying that newspaper, the newspaper stand has got value from the headline, and contributed nothing to the newspaper publisher in return.
The reality is that headlines are advertisements for articles. That's why there are headline writers in the first place. Make a better advertisement, get more sales.
In the case of Google, publishing links with headlines means publishing free ads for that website. The website most certainly benefits from that relationship, if they didn't, they would just use robots.txt to block Google indexing their website, which someone has always been free to do.
The real problem is that newspapers would just like to take a percentage of Google revenue, because they're a big company.