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Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,550,000
Close 2023-12-05 C$ 17.96
Market Cap C$ 99,678,000
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Globe says Meta could still face regulations

2023-12-06 07:00 ET - In the News

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

The Globe and Mail reports in its Wednesday, Dec. 6, edition that Meta resumed talks with Ottawa over the Online News Act this week, as Heritage Minister Pascale St-Onge implied the tech giant could still be subject to regulation. The Globe's Marie Woolf writes that three unnamed sources confirmed that Meta had met with the government on Monday. The meeting between federal Heritage Department officials and Meta's Rachel Curran ended an impasse during which Meta had refused government calls to come back to the table over the act. Only Meta and Alphabet's Google are currently large enough to be subject to the Online News Act. Both companies have objected to Ottawa's requirements. However, late last month, Google reached a deal with the government that would cap its annual obligation at $100-million, indexed to inflation. Meta had thought blocking Canadians' access to news on Facebook and Instagram would put it outside the scope of the act. However, on Tuesday, Ms. St-Onge suggested Meta could still be regulated under the legislation. Ms. St-Onge said news is still seeping through on Meta's platforms, and that the Canadian Radio-television and Telecommunications Commission might take an interest.

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