06:08:36 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Cogeco Inc
Symbol CGO
Shares Issued 14,009,952
Close 2023-07-10 C$ 54.49
Market Cap C$ 763,402,284
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Globe says Postmedia, others hear there's a better way

2023-07-11 08:19 ET - In the News

See In the News (C-PNC) Postmedia Network Canada Corp (2)

The Globe and Mail reports in its Tuesday edition that there are better ways of supporting Canadian media than the mess of Bill C-18. A Globe editorial says that the minority Trudeau government, the NDP and Bloc Québécois made a big show last week of their refusal to back down on Bill C-18 in the face of Google and Meta's threats to remove Canadian media from their platforms. Not only did they refuse to reverse course on a law that forces Big Tech to pay to link to on-line news stories, but the Heritage Minister upped the stakes by announcing the feds would suspend buying ads on Facebook and Instagram, both owned by Meta. Quebec, Montreal, media companies -- CBC, Postmedia, Quebecor and Cogeco joined the boycott. The government's logic is flawed. By trying to force Google and Meta's hand, Ottawa is interfering with the free market. There are far better ways of helping media adapt to the digital world. The most obvious one would be for Ottawa to increase the existing tax credit available to people who subscribe to an on-line news service. The current credit is 15 per cent of the amount spent, for a maximum credit of $75. A Macdonald-Laurier report recommend the credit be increased to 100 per cent, with no maximum.

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