07:11:33 EDT Sat 18 May 2024
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or Name
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CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 4,550,000
Close 2023-07-14 C$ 17.51
Market Cap C$ 79,670,500
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Globe says Meta, rival watch Ottawa blink on Bill C-18

2023-07-14 07:35 ET - In the News

Also In the News (C-GOOG) Alphabet Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Friday, July 14, edition that Bill C-18 would force Meta and Google to negotiate deals to pay Canadian journalistic outlets for posting links to news. The Globe's Jen Gerson writes that the tech corporations said that if the government was going to force them to pay for sharing links, they would decline to share those links. Thus, here we are, on the eve of war. Ms. Gerson says the government passed poorly conceived legislation in a bid to salvage what is left of this country's journalism industry, despite multiple warnings that the companies involved would respond exactly as they have. Facebook has been limiting news posts for weeks now, and if Google makes good on its threats, it may wind up throttling traffic to every media outlet in the country. Even if Google and Ottawa do come to some kind of agreement, there is a good chance that the media industry as a whole will actually be worse off financially. C-18 may be law, but the government is still working through how it will be enforced via regulation, and Google is hoping that this process will play out as it did in Australia -- namely, that the government will blink. Indeed, that appears to be happening.

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