05:25:52 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,500,000
Close 2023-12-15 C$ 18.79
Market Cap C$ 103,345,000
Recent Sedar Documents

Globe says Alphabet's Google, Meta see rules published

2023-12-15 07:38 ET - In the News

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

The Globe and Mail reports in its Friday, Dec. 15, edition that Ottawa is capping broadcasters' share of the $100-million Alphabet's Google must inject into Canada's news industry under the Online News Act, to ensure that most of the money goes to print and digital outlets, including newspapers. The Globe's Marie Woolf writes that the regulations to the act were published by the federal government on Friday, after months of negotiations between the Heritage Minister and Google. They set out how the legislation will apply in practice. The regulations limit the amount of the new funding that private broadcasters will gain. The CBC's amount is capped at an even lower threshold. Google will pay into a "collective," a type of fund run by news businesses, which will distribute the money. How much money individual news organizations will collect from the deal will depend in part on the number of full-time journalists they employ to produce what the final regulations call "original news content that is intended to be made available on-line." This formula could mean less money for small local newspapers, including ethnic outlets, which sometimes have no on-line presence. Meta has removed news from its platforms.

© 2024 Canjex Publishing Ltd. All rights reserved.