Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

Meta faces trial in October on unfair competition case lodged by Spanish media

by
November 29, 2024
in Stock
0
Meta faces trial in October on unfair competition case lodged by Spanish media

MADRID (Reuters) – Facebook owner Meta Platforms (NASDAQ:META) will face a trial in October 2025 in Spain over a 551 million euro ($582 million)complaint lodged by more than 80 media companies accusing it of unfair competition in advertising, a Madrid court said on Friday.

The hearings will be held on Oct. 1 and 2, the 15th Madrid commercial court said in a statement.

The AMI media association, which represents 87 Spanish media firms, filed a lawsuit last year alleging Meta violated EU data protection rules between 2018 and 2023.

The newspapers argue that Meta’s “massive” and “systematic” use of the personal data of its Facebook, Instagram and Whatsapp platform users gives it an unfair advantage in designing and offering personalised ads, which they say constitutes unfair competition.

A Meta spokesperson did not immediately respond to a request for comment.

Listed newspapers publishers Prisa (BME:PRS), which owns El Pais newspaper, and Vocento, which owns ABC Newspaper, are among the complainants.

Separately, Spanish TV and radio broadcasters associations UTECA and AERC said last month they had filed a 160 million euro lawsuit against Meta on the same grounds.

The Spanish suits represent efforts by legacy media to fight tech giants in both courts and legislatures to preserve their revenue, arguing such firms should pay fair fees for using and sharing their content.

Some of these attempts have backfired in countries like Canada and Australia, where Meta has blocked users from reposting news articles.

In its other markets, Meta has been scaling back its promotion of news and political content to drive traffic and says news links now represent only a fraction of users’ feeds.

($1 = 0.9471 euros)

This post appeared first on investing.com
Previous Post

Exclusive-Volkswagen India unit faces $1.4 billion tax evasion notice

Next Post

Meta to build $10B global subsea cable for internet traffic – TechCrunch

Next Post
Meta to build $10B global subsea cable for internet traffic – TechCrunch

Meta to build $10B global subsea cable for internet traffic – TechCrunch

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    DOJ releases final violent crime numbers for Biden administration

    DOJ releases final violent crime numbers for Biden administration

    January 17, 2025
    RNC chair on GOP’s mission going forward: ‘Make sure…Trump voters become Republican voters’

    RNC chair on GOP’s mission going forward: ‘Make sure…Trump voters become Republican voters’

    January 17, 2025
    What Would It Take For Small Caps to Lead?

    What Would It Take For Small Caps to Lead?

    January 17, 2025
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • DOJ releases final violent crime numbers for Biden administration
    • RNC chair on GOP’s mission going forward: ‘Make sure…Trump voters become Republican voters’
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2025 proudforprofits.com | All Rights Reserved