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Facebook owner Meta may remove news from platform if U.S. Congress passes media bill

By David Shepardson WASHINGTON (Reuters) - Facebook parent Meta Platforms Inc (NASDAQ:META) on Monday threatened to remove news from its platform if the U.S. Congress passes a...
Facebook owner Meta may remove news from platform if U.S. Congress passes media bill © Reuters. FILE PHOTO: Woman holds smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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By David Shepardson

WASHINGTON (Reuters) - Facebook parent Meta Platforms Inc (NASDAQ:META) on Monday threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively with companies like Alphabet (NASDAQ:GOOGL) Inc's Google and Facebook.

Sources briefed on the matter said lawmakers are considering adding the Journalism Competition and Preservation Act to a must-pass annual defense bill as way to help the struggling local news industry. Meta spokesperson Andy Stone in a tweet said the company would be forced to consider removing news if the law was passed "rather than submit to government-mandated negotiations that unfairly disregard any value we provide to news outlets through increased traffic and subscriptions."

He added the proposal fails to recognize that publishers and broadcasters put content on the platform because "it benefits their bottom line - not the other way around."

The News Media Alliance, a trade group representing newspaper publishers, is urging Congress to add the bill to the defense bill, arguing that "local papers cannot afford to endure several more years of Big Tech’s use and abuse, and time to take action is dwindling. If Congress does not act soon, we risk allowing social media to become America’s de facto local newspaper."

More than two dozen groups including the American Civil Liberties Union, Public Knowledge and the Computer & Communications Industry Association on Monday urged Congress not to approve the local news bill saying it would "create an ill-advised antitrust exemption for publishers and broadcasters" and argued the bill does not require "funds gained through negotiation or arbitration will even be paid to journalists."

A similar Australian law, which took effect in March 2021 after talks with the big tech firms led to a brief shutdown of Facebook news feeds in the country, has largely worked, a government report said.

Since the News Media Bargaining Code took effect, various tech firms including Meta and Alphabet have signed more than 30 deals with media outlets, compensating them for content that generated clicks and advertising dollars, the report added.

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29-03-2024 07:21:10 (UTC+7)

EUR/USD

1.0785

-0.0002 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (9)

EUR/USD

1.0785

-0.0002 (-0.02%)

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Moving Avg:

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GBP/USD

1.2623

+0.0001 (+0.01%)

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↑ Buy

Moving Avg:

Buy (7)

Sell (5)

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Buy (9)

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USD/JPY

151.48

+0.10 (+0.07%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

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Buy (5)

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AUD/USD

0.6515

0.0000 (0.00%)

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↑ Sell

Moving Avg:

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USD/CAD

1.3538

0.0000 (0.00%)

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Neutral

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EUR/JPY

163.35

+0.10 (+0.06%)

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EUR/CHF

0.9726

-0.0001 (-0.01%)

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Gold Futures

2,254.80

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Silver Futures

25.100

+0.002 (+0.01%)

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Copper Futures

4.0115

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Crude Oil WTI Futures

83.11

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Brent Oil Futures

86.99

+0.04 (+0.05%)

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Natural Gas Futures

1.752

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US Coffee C Futures

188.53

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Euro Stoxx 50

5,082.85

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S&P 500

5,254.35

+5.86 (+0.11%)

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DAX

18,504.51

+27.42 (+0.15%)

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FTSE 100

7,952.62

+20.64 (+0.26%)

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Hang Seng

16,541.42

+148.58 (+0.91%)

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Neutral

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US Small Cap 2000

2,120.15

+5.80 (+0.27%)

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Neutral

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IBEX 35

11,074.60

-36.70 (-0.33%)

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Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

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Bayer AG NA

28.43

+0.01 (+0.04%)

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Buy

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Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

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Adidas AG

207.00

+2.30 (+1.12%)

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Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

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Siemens AG Class N

176.96

+0.04 (+0.02%)

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Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

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Moving Avg:

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Sell (1)

    EUR/USD 1.0785 ↑ Sell  
    GBP/USD 1.2623 ↑ Buy  
    USD/JPY 151.48 Buy  
    AUD/USD 0.6515 ↑ Sell  
    USD/CAD 1.3538 Neutral  
    EUR/JPY 163.35 ↑ Sell  
    EUR/CHF 0.9726 Sell  
    Gold 2,254.80 ↑ Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
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Cập nhật 29-03-2024 07:21:12
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ↀ Giá vàng thế giới
$2,232.75 +41.73 1.90%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
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WTI $82.82 +5.39 0.07%
Brent $86.82 +5.18 0.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 07:19:20 29/03/2024
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