The parent company of Facebook, Meta, has threatened to suspend news from Facebook in the US. It opposes the latest proposed legislation known as “Journalism Competition and Preservation Act” that would give media organizations more negotiating power when setting prices for Facebook-shared material.
The legislation was introduced by Minnesota Senator Amy Klobuchar. The legislation was supported by more than a dozen additional lawmakers from other parties, which would grant news organizations. The proposed legislation will grant news organizations a four-year immunity from antitrust laws of the US, making them able to bargain collectively in exchange for their news content.
Threat To Democracies
Director at the American Economic Liberties Project, Matt Stoller, has said that Meta was “eating alive” other media sources, considering the monopoly a ‘threat to democracies around the world. According to the proponents of the legislation, it is designed to combat Big Tech’s hegemonic authority.