Do Facebook and Google host news?

I don't use FB but as far as I know, it doesn't host any news content, just a snippet. News publishers also push their content hard on FB for views.

I'm more familiar with Google and they don't have any news. The most they have is Google News which is just a page with links to news sites.

So why are news outlets saying big tech should be paying them for their news if all big tech is doing is in fact sending traffic to them?

Did I miss something there?