- Quebecor (TSX:QBR.A) has cancelled its Meta ad placements given the tech giant’s opposition to Bill C-18, otherwise known as the Online News Act
- In reaction to the bill, which requires digital platforms to pay for Canadian journalism, Meta has since blocked all Canadian journalistic content
- The Canadian communications company hopes other institutions will join its protest by reallocating their online advertising budgets
- Quebecor is a leader in Canadian telecommunications, entertainment, news media and culture with over 70 years of history
- Quebecor stock (TSX:QBR.A) last traded at $33.14 per share
Quebecor (TSX:QBR.A) has cancelled its Meta ad placements given the tech giant’s opposition to Bill C-18.
This includes all advertising by its subsidiaries and business units from Facebook and Instagram.
In reaction to the bill, otherwise known as the Online News Act – which requires digital platforms to pay for Canadian journalism – Meta has since blocked all Canadian journalistic content. Google has also followed suit.
“This high-handed decision is an abuse of Meta’s dominant position, particularly in the Canadian online advertising market, and violates the basic tenets of any society that believes in the importance of reliable, trustworthy news coverage for a healthy democracy,” Quebecor management said in a joint statement.
The Quebec-based communications company views Meta’s refusal to enter into negotiations with Canadian media outlets as discriminatory and an attempt to circumvent Canadian law that should not be tolerated.
It is calling on businesses, governments and institutions to follow its lead and voice their disagreement with Meta’s treatment of public policy and the news media by withdrawing their ad dollars.
Quebecor is a leader in Canadian telecommunications, entertainment, news media and culture with more than 70 years of history.
Quebecor (TSX:QBR.A) last traded at $33.14 per share.
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