09:23:32 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,550,000
Close 2023-12-01 C$ 18.31
Market Cap C$ 101,620,500
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Globe says Ottawa makes fresh overture to Meta

2023-12-04 07:16 ET - In the News

The Globe and Mail reports in its Saturday edition that Ottawa has made a fresh overture to Meta to come back to the negotiating table and unblock news on Facebook and Instagram. The Globe's Marie Woolf writes that an unnamed source said the approach to Meta by officials in the Heritage Department was made last week shortly after its deal with Google. Meta is protesting against the Online News Act. By completely blocking access, Meta is no longer covered by the legislation. The Online News Act comes into force on Dec. 19. The Canadian Radio-television and Telecommunications Commission will oversee how the act is implemented, taking into account government regulations. Meta has said the problems it has with the legislation cannot be fixed through regulations. Meta spokesman Lisa Laventure said, "Unlike search engines, we do not pro-actively pull news from the Internet to place in our users' feeds and we have long been clear that the only way we can reasonably comply with the Online News Act is by ending news availability for people in Canada." Three unnamed sources said the department had approached Meta about talks. Two expressed optimism the Google deal would spur Meta to come back to the negotiating table.

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