05:26:44 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,050,000
Close 2023-08-01 C$ 18.30
Market Cap C$ 92,415,000
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NP says Meta ends news sharing, blames Bill C-18

2023-08-02 09:06 ET - In the News

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

The National Post reports in its Wednesday, Aug. 2, edition that Meta is following through with its threat to end the availability of news on its platforms beginning Tuesday, preventing Canadians from sharing news articles on its social media sites. The Post's Ryan Tumilty writes that the change is the company's response to Bill C-18, the Online News Act, the new federal law that would force Meta and Alphabet's Google to negotiate deals with Canadian news publishers to pay for their content. Meta had warned the government this would be its approach to the law, which will come into effect by the end of the year. It will remove news for all Canadian users over the course of the next few weeks. Meta Canada's Rachel Curran said: "For many months, we have been transparent about our concerns with the Online News Act. It is based on the incorrect premise that Meta benefits unfairly from news content shared on our platforms, when the reverse is actually true. News outlets voluntarily share content on Facebook and Instagram to expand their audiences and help their bottom line. In contrast, we know the people using our platforms don't come to us for news." Ms. Curran hopes the government changes its approach.

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