08:02:14 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,550,000
Close 2023-12-18 C$ 19.45
Market Cap C$ 107,947,500
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Globe says Ottawa caps Alphabet's Google dollars to CBC

2023-12-18 07:11 ET - In the News

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

The Globe and Mail reports in its Saturday, Dec. 16, edition that Ottawa is capping CBC's share of the money the news industry will gain under the Online News Act at $7-million, with other broadcasters getting no more than $30-million of the $100-million Alphabet's Google will inject into Canada's news industry each year. The Globe's Marie Woolf writes that almost two-thirds of the Google dollars resulting from the Online News Act will now go to written media, government regulations published Friday said. The legislation gained royal assent in June and goes into effect on Tuesday. The law is designed to stem the closing of newsrooms as advertising continues to migrate to tech platforms. Heritage Minister Pascale St-Onge suggested that Meta, which is not subject to the legislation after withdrawing news from Facebook and Instagram in Canada, could yet be captured by the act. She told reporters that the Canadian Radio-television and Telecommunications Commission will assess whether Meta could be subject to regulation. Prime Minister Justin Trudeau told reporters Friday that conversations are continuing with Meta and the government will press the company to support journalism.

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