05:11:50 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,050,000
Close 2023-08-09 C$ 17.32
Market Cap C$ 87,466,000
Recent Sedar Documents

Globe says Comp Bureau asked to investigate Meta

2023-08-09 07:34 ET - In the News

The Globe and Mail reports in its Wednesday edition that a coalition of broadcasters and publishers has asked the Competition Bureau to probe Meta's move to block Canadians' access to news on Facebook and Instagram, a decision the company made in response to the federal government's Online News Act. The Globe's Marie Woolf writes that in a joint letter to Commissioner of Competition Matthew Boswell, the group calls on the competition watchdog to use its powers to force Meta to reverse course, saying the tech giant has abused its dominant position and is guilty of anti-competitive conduct. The group, made up of the CBC, the Canadian Association of Broadcasters and News Media Canada, says in the letter that Meta "has chosen to actively inflict harm to news organizations" by removing access to "this critical distribution channel." The letter says, "If Meta is allowed to proceed unchecked, it could inflict significant damage to Canadian news organizations' ability to offer quality news services to Canadians, which is critical to the functioning of a free and democratic society." Meta began restricting Canadians access to news this month in response to the federal Online News Act, also known as Bill C-18.

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