05:48:15 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,050,000
Close 2023-08-04 C$ 17.60
Market Cap C$ 88,880,000
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NP says tech giants Meta, Google need to be reined in

2023-08-08 07:58 ET - In the News

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

The National Post reports in its Saturday edition that last week Meta began blocking Canadian news on its platforms, with Google expected to follow suit shortly. The Post's guest columnist Keldon Bestera writes that though Facebook has attracted the most headlines, the real elephant in the room is Google. Among the digital giants, Google's dominance in search, over 90 per cent in many countries, is emblematic of the competitive challenges in these markets, but its dominance also extends into the technology that makes up the backbone of digital advertising. Google's grip on the advertising-technology market is made clear in the United States Department of Justice's antitrust case, filed in January, against the firm. The DOJ alleges that through a pattern of anti-competitive behaviour, Google has come to own both sides of the digital advertising market. It is this power that has allowed Google to effectively boycott the responses of policy makers attempting to rebalance its relationship with publishers. Global tech firms are making an example of Canada, as a lesson to other countries considering pushing back against concentrated corporate power. The task of taming that power will require international co-operation.

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