Draft regulations for Canada’s Online News Act were released last week. Meta qualifies for an exemption if they pay $60M.
Online News Act
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Google parent Alphabet saw a slight bump in stock price after reporting better than expected revenue and earnings.
Meta is removing access to news on Facebook and Instagram in Canada as a result of the Online News Act.
Google will remove Canadian news from Google Search, News and Discover now that the Online News Act has passed.
The Online News Act passed, so Meta is moving forward with its plans to block news in Canada on Facebook and Instagram.
The Senate Judiciary Committee passed the Journalism Competition and Preservation Act in a 14-7 vote.
If Canada’s Online News Act passes, it could cost digital platforms like Google & Facebook $392.2M (Canadian) a year.
