Similar to its move in Canada, Meta Platforms Inc., that owns Facebook , plans on removing news content in at least three European countries.
It is the latest sign that Meta Platforms (Facebook / Instagram) wants out of the news business.
The company says it will remove the news tab – a facebook feature to prominently display news material that has been shared. In a statement , Facebook repeated what it said regarding news feeds in Canada.
“We know that people don’t come to Facebook for news and political content – they come to connect with people and discover new opportunities, passions and interests”
With intense competition from TikTok, Facebook is focusing on its business on virtual reality. Meanwhile, TikTok allows sharing of news stories on its platforms.
The Online News Act introduced in Canada this Summer forced Meta to pull all news from the platform in Canada. The acts was designed to bring in $230 million to Canada’s news media as Meta continues to take the majority share of advertising dollars that once helped fund media in Canada.
In the Tuesday blog post, Meta said its existing agreements with publishers in the U.K., Germany and France would be honored “until they expire.”
