- Postmedia Network Inc., a subsidiary of Postmedia Network Canada Corp., (TSX.PNC.A) has paused direct company advertising on Meta platforms such as Facebook and Instagram
- The pause comes after Meta’s plans to block Canadian news in response to the government’s recent passing of the Online News Act.
- Postmedia Network is a Canadian newsmedia company with more than 130 brands
- Shares of Postmedia (TSX:PNC.A) are unchanged at C$1.80
Postmedia Network Inc., a subsidiary of Postmedia Network Canada (TSX.PNC.A), has paused direct company advertising on Meta platforms such as Facebook and Instagram.
The Canadian media company said in a news release the move to withdraw its ads comes after Meta’s plans to block Canadian news in response to the government’s recent passing of the Online News Act.
Postmedia Network Inc. is a wholly owned subsidiary of Postmedia Network Canada and is a news media company representing more than130 brands across a wide range of platforms.
“There is no greater proof of the critical need for this law at this time than the actions taken upon its passing,” Andrew MacLeod, CEO of Postmedia, said in a statement. “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.”
The Online News Act, also known as Bill C-18, was passed in late June and requires major digital platforms to pay media brands for the content shared.
In response to the Act, major online platforms such as Meta and Google have said they will block Canadian news.
“Today we’re calling on both platforms to stay at the table, work through the regulatory process with us, and contribute their fair share and keep news on their platform,” Canadian Heritage Minister Pablo Rodriguez previously said.
The move by Postmedia also comes after Canadian telecommunications, entertainment and news media company Quebecor’s (TSX:QBR.A) move to withdraw its ads from Meta platforms.
Shares of Postmedia are unchanged at C$1.80.
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