06:46:29 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,000,000
Close 2023-10-06 C$ 17.83
Market Cap C$ 89,150,000
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Globe/CP say Meta, rival hear Online News not perfect

2023-10-10 07:14 ET - In the News

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

The Globe and Mail reports in its Saturday edition that the Canadian media landscape is changing too fast to wait for a perfect version of the Online News Act, Heritage Minister Pascale St-Onge said Friday. A Canadian Press dispatch to The Globe reports that Google once again, however, has threatened to remove news links from its search engine over what it considers serious flaws to the new legislation. The act, meant to help a struggling news industry, will force digital giants to negotiate deals with news publishers to compensate them for work that is shared or otherwise repurposed on their platforms. It does not come into force until December, but Meta started removing news for Canadians from its social media platforms this summer in what Ms. St-Onge said was an intimidation tactic. Meta has maintained that the legislation is based on the false premise that it and others unfairly benefit from news content, and that the only way it can reasonably comply with the law is to end news availability in Canada. Google has also argued the legislation, "while well intended is built upon a fundamentally flawed premise," as it wrote in its response to draft regulations outlining how the legislation would be implemented.

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