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Postmedia Network Canada Corp (2)
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Shares Issued 93,686,277
Close 2021-02-25 C$ 1.59
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Globe says Postmedia told Facebook willing to deal

2021-02-26 07:47 ET - In the News

Also In the News (C-FP) FP Newspapers Inc
Also In the News (C-GVC) Glacier Media Inc

The Globe and Mail reports in its Friday edition that Facebook's head of public policy for Canada says the company is prepared to negotiate licensing deals with Canadian news publishers, after making a similar pledge this week in Australia. The Globe's Bill Curry writes that Kevin Chan told The Globe that while the details and timing are still being worked out, the company is open to paying Canadian publishers for news that appears on its site. Mr. Chan said this would likely be in the form of a new product on its platform and the payments would be in addition to its existing programs that support journalism in Canada. Australia approved new legislation this week requiring social-media platforms to compensate publishers for news. The legislation passed after last-minute amendments that earned the support of Facebook, which had taken the dramatic step last week of shutting down news sharing on its platform in Australia in response to the legislation. Facebook announced this week that it would end its Australian news ban, pursue licensing negotiations with publishers and would spend $1-billion worldwide over the next three years on journalism. Australia's law sets up a system of "final offer" arbitration.

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