(Reuters) - Several Canadian companies and government agencies have stopped advertising on Facebook and Instagram after Meta Platforms (NASDAQ:META) decided to stop news access on the apps over a law that requires payments to local news publishers.
The "Online News Act", which was approved by the Canadian parliament and received a royal assent on June 22, prompted a similar response from Google-parent Alphabet (NASDAQ:GOOGL).
Below is a list of companies that have paused advertising on Meta's social media platforms:
Company Date Comment
Postmedia July 6 "There is no greater proof of the
critical need for this law at this
time than the actions taken upon its
passing. We hope to work together to
ensure that all parties can do what
the Online News Act allows for, to
bargain fairly, level the playing
field and preserve journalism in
Canada," said CEO Andrew MacLeod.
Torstar July 6 "We vigorously object to Meta's
Corporation unprecedented plans to block our
content on its platforms in protest
against the federal government's
Online News Act (Bill C-18)," Neil
Oliver, CEO of the owner of Toronto
Star and Metroland Media Group,
said.
Cogeco July 5 "In support of this legislation and
the regulatory process that will
soon be launched for its
implementation, Cogeco, along with
many other industry members, has
decided to withdraw its advertising
investments from Meta platforms,"
Cogeco said.
Quebecor July 5 "Any move by Meta to circumvent
Canadian law, block news for its
users or discriminate against
Canadian media content on its
platforms, through its algorithms or
otherwise, cannot be tolerated,"
said Quebecor.
CBC/Radio-Cana July 5 "Access to news, a plurality of
da voices and a diversity of viewpoints
are all cornerstones of a healthy
democracy. We join other Canadian
media organizations that are calling
for Canadians' access to news — all
news, from all outlets, both public
and private — to be protected," said
CBC/Radio-Canada