06:47:31 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,000,000
Close 2023-08-04 C$ 17.60
Market Cap C$ 88,000,000
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NP says Meta takes harder line on Bill C-18 than Google

2023-08-04 07:16 ET - In the News

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

The National Post reports in its Friday, Aug. 4, edition that Meta will soon block all news content from its Canadian users starting Tuesday. The Post's Bryan Passifiume writes that the Online News Act, originally Bill C-18, compels both Meta and Alphabet's Google to broker deals with publishers to pay for news content. Google has said it will begin blocking news later this year, but Meta is not waiting. Of the two companies, Meta has taken the harder line on the Online News Act. Then-heritage-minister Pablo Rodriguez said in June that he had entered into talks with Google to reach a compromise, but Google denied this. Mr. Rodriguez was shuffled out last week and the new minister is Pascal St-Onge, who has spoken out about her desire to see Big Tech more heavily regulated. Estimates provided by the Parliamentary Budget Officer suggest that the law could have resulted in both Google and Meta handing over nearly $330-million annually to publishers. On Tuesday, Meta accused the federal government of basing the law on the false premise that the company "benefits unfairly" from on-line news content, saying the reverse is actually true. Meta said people using its platforms do not come to its platform for news.

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