08:57:29 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 4,350,000
Close 2023-07-12 C$ 17.55
Market Cap C$ 76,342,500
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Globe says Meta won't stop blocking news

2023-07-12 07:17 ET - In the News

The Globe and Mail reports in its Wednesday edition that Ottawa's bid to bring Google and Meta onside through regulations to its Online News Act has failed to persuade Meta, which will press ahead with plans to block Canadians' access to news on Facebook and Instagram. However, the social-media giant has yet to decide whether it will also block links to news on Threads, Meta's freshly launched rival to Twitter. The federal Heritage Department has not clarified whether allowing links to news on Threads would mean Meta would be subject to the Online News Act, which the social-media giant wants to avoid. The department released details Monday of regulations being drafted governing how the legislation would apply to tech giants, including setting a cap on how much they would have to contribute to Canada's news industry under the legislation. Facebook, however, said Tuesday its position has not changed and it was moving ahead with plans to withdraw access to Canadian news on its platforms in Canada. Google declined to comment on whether the regulations being drafted would be enough to keep it from blocking searches for Canadian news. The Online News Act, also known as Bill C-18, received royal assent last month.

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