07:12:33 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
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NP says Competition Bureau eyes Meta's news blockage

2023-08-09 07:51 ET - In the News

The National Post reports in its Wednesday edition that publishers and broadcasters have asked the Competition Bureau for an investigation into Meta's news blocking. The Post's Anja Karadeglija writes that News Media Canada, the Canadian Association of Broadcasters and CBC/Radio-Canada want the Competition Bureau "to use its investigative and prosecutorial tools to protect competition and prohibit Meta from continuing to block Canadians' access to news content." Senior communications adviser John Power said he could confirm the bureau has received the request. "I can also confirm that the Competition Bureau has been monitoring these developments closely and is in the process of conducting a preliminary review of this matter," he said. "The Bureau is gathering information to consider whether this conduct may fall under the Competition Act, including ways that this specific conduct may harm competition." Mr. Power said if the bureau determines Meta's actions do fall under the Competition Act, it will not "hesitate to take appropriate action." Given the review is ongoing "and there is no conclusion of wrongdoing at this time," he declined to provide any information about next steps or when to expect them.

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