A Canadian regulator announced Wednesday it will require Alphabet Inc. GOOGL GOOG to pay a fee to cover the costs of enforcing the country’s Online News Act, adding to growing tensions between Canada and the United States over trade and technology policies.
The Canadian Radio-television and Telecommunications Commission said the fee will take effect on Apr. 1, with no upper limit established, Reuters reported. Google previously objected during public consultations, arguing it was “not a rational approach” to impose all costs on one entity.
Despite these objections, Google had already agreed to pay C$100 million annually to news publishers to maintain news content in search results. Meta Platforms Inc. META, the only other company meeting the size threshold under the law, instead chose to block news on its Facebook and Instagram platforms in Canada.
The regulation represents part of a global trend requiring tech giants to compensate news organizations. The CRTC noted in its policy notice that the recovery costs can only be levied on digital platforms covered by the law.
Price Action: Alphabet’s Class A stock closed at $172.73 on Wednesday, down 1.53%, while Class C fell 1.51% to $174.70, according to data from Benzinga Pro.
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