Facebook Could Axe Canadian News Content Over Liberals’ New Revenue-Sharing Bill

Facebook is threatening to axe news content sharing on its platform as Canada’s federal government gets one step closer to imposing a new law forcing social media companies to share profits with news publishers.

The Online News Act, which was first unveiled back in April, will force major social media platforms such as Meta Platforms and Google to create contracts with Canadian news publishers and compensate them for revenue generated by their content. The proposed rules are currently being mulled over by the parliamentary committee, and Facebook is complaining it wasn’t included in the discussions. “We believe the Online News Act misrepresents the relationship between platforms and news publishers, and we call on the government to review its approach,” wrote Meta Canada head of media partnerships Marc Dinsdale in a blog post.

“In the face of adverse legislation based on false assumptions that defy the logic of how Facebook operates, we believe it’s important to be transparent about the possibility that we may be forced to reconsider allowing news content sharing in Canada,” he added. Pablo Rodriguez, Canada’s Heritage Minister, instead argued that major social media conglomerates such as Meta Platforms must make reasonable deals with news content creators that are then overlooked by a regulator. “All we’re asking the tech giants like Facebook to do is negotiate fair deals with news outlets when they profit from their work,” Rodriguez said on Friday.

A similar law forcing tech giants to pay local media for news content was passed in Australia last year, prompting Facebook to axe all third-party content in the country for over a week, while Google threatened to shut down its Australian search engine. The Australian government eventually ended up making amendments to the legislation and both social media giants ended up making deals with news content creators.

Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Russia Bans Major Media Sites Including Facebook, Twitter

Russia’s media regulator Roskomnadzor cut access to various independent media sites on Thursday, in a...

Friday, March 4, 2022, 03:12:07 PM

Meta Dissolves Team Assigned To Police Potential Ethical Issues Of Facebook, Instagram

Just a little a year after drumming up their own ‘responsible innovation’ efforts, Facebook’s parent...

Monday, September 12, 2022, 02:21:00 PM

Biden Calls To Hold Big Tech Accountable For “National Experiment” On Children For Profit

US President Joe Biden called out the big tech giants pertaining to their effect on...

Wednesday, March 2, 2022, 10:13:00 AM

Facebook Parent Looks To Cut Thousands Of More Jobs

Tech layoffs appear to not yet be over, with the Washington Post reporting this morning...

Wednesday, February 22, 2023, 10:54:00 AM

Is Trump Returning to Twitter and Facebook?

Wanting to return to power with a fresh bid for the presidency in 2024, Donald...

Thursday, January 19, 2023, 11:11:43 AM