05:57:00 EDT Sat 18 May 2024
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or Name
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Meta CDR (CAD Hedged)
Symbol META
Shares Issued 4,850,000
Close 2023-08-25 C$ 16.17
Market Cap C$ 78,424,500
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Globe says Meta said to be making example of Canada

2023-08-28 07:03 ET - In the News

The Globe and Mail reports in its Saturday edition that Meta has blocked access to news on Facebook and Instagram in response to the Online News Act. The Globe's Marie Woolf and Tu Thanh Ha write that Meta says the legislation is flawed and would impose unlimited liabilities on it. The blocks have included some publications that do not produce news, including The Typescript, an American on-line literary journal that is run by Canadian Matthew Friedman. Mr. Friedman complained to Meta that it had been blocked even though it is "neither a Canadian nor a news publication" and the block was lifted. Mr. Friedman said he viewed the blocking by Meta "as a form of corporate gunboat diplomacy" to send a signal to other countries mulling similar laws. "This suggests that the purpose of the blockade is punitive and not a question of compliance," he said as Meta is blocking Canadians' access to foreign news sites that would not fall under the jurisdiction of the Online News Act. He said: "They want to make an example of Canada. They want to put out this fire before it runs out of control. This is corporate colonialism." Meta said that outlets not focused on news can ask for a review of the decision to block them.

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