09:22:49 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 4,850,000
Close 2023-07-21 C$ 16.68
Market Cap C$ 80,898,000
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Globe says Champoux has accused Meta of arrogance

2023-07-21 08:12 ET - In the News

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

The Globe and Mail reports in its Friday edition that Meta is running ads informing Canadians of its plan to block the viewing and sharing of news content on Facebook and Instagram within weeks, but some Quebec radio stations and news publications are refusing to carry them. The Globe's Marie Woolf writes that it is the latest development in a tense standoff between Meta and the federal government and supporters of the Online News Act, also known as Bill C-18. The legislation is designed to support the Canadian news industry after much of its advertising migrated to big-tech platforms. Bloc Quebecois heritage critic Martin Champoux has accused Meta of arrogance by placing ads about its plans to withdraw from news with the very media it would deny money to by failing to comply with the legislation. Bill C-18 would make Facebook and Alphabet's Google negotiate deals to compensate news outlets for posting or linking to their work, but the tech giants say it is deeply flawed. By withdrawing news from its platforms, Ms. Woolf notes that Meta would not be subject to the act. Google plans similar media blockage. However, unlike Meta, which has ceased negotiations with Ottawa , Google is in continuing talks over the law.

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