Quebecor pulls ads from Facebook and Instagram in response to plan to block news
By The Canadian Press on July 5, 2023.
MONTREAL – Quebecor Inc. is withdrawing advertising from Meta’s Facebook and Instagram platforms after the tech giant’s decision to remove Canadian news from its sites. Meta made the move in response to the federal Online News Act which requires Google and Meta to pay news publishers for content that appears on their sites if it helps them generate money. Both Meta and Google have said they would remove Canadian news from their platforms to avoid having to compensate the news outlets. Quebecor says it is making its move after Meta’s “categorical refusal” to enter into negotiations. The Quebec-based company says 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. Quebecor owns telecommunications company Videotron as well as TVA Group which includes the TVA television network, specialty channels and magazines. It also owns the Journal de Montreal and Journal de Quebec newspapers. This report by The Canadian Press was first published July 5, 2023. Companies in this story: (TSX:QBR.A, TSX:QBR.B) 9-8
