Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

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

admin by admin
November 29, 2024
in Stock
0
Meta faces trial in October on unfair competition case lodged by Spanish media
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

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

Adani Group CFO says US bribery case accused to clarify matters in next 10 days

Next Post

Investors flock to US equity funds on new Treasury pick

admin

admin

Next Post
Investors flock to US equity funds on new Treasury pick

Investors flock to US equity funds on new Treasury pick

Trending News

Consider reducing exposure to US stocks and Bitcoin, this analyst says

Consider reducing exposure to US stocks and Bitcoin, this analyst says

December 4, 2024
Will Trump’s tariffs crush the IPO boom in 2025?

Will Trump’s tariffs crush the IPO boom in 2025?

December 18, 2024
ECB delivers sixth rate cut in nine months amid Trump tariff uncertainity

ECB delivers sixth rate cut in nine months amid Trump tariff uncertainity

March 6, 2025
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.