What Happened
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In a blog post made Thursday, Facebook’s head of cybersecurity policy, Nathaniel Gleicher wrote, “Later this summer we will begin blocking ads from these outlets in the US out of an abundance of caution to provide an extra layer of protection against various types of foreign influence in the public debate ahead of the November 2020 election in the US.”” data-reactid=”21″>In a blog post made Thursday, Facebook’s head of cybersecurity policy, Nathaniel Gleicher wrote, “Later this summer we will begin blocking ads from these outlets in the US out of an abundance of caution to provide an extra layer of protection against various types of foreign influence in the public debate ahead of the November 2020 election in the US.”
Gleicher also revealed that the social media giant plans to label media outlets “that are wholly or partially under the editorial control of their government.”
In the United States, labeling will begin appearing on the News Feed on Facebook over the course of the next week. Later in the summer, labeling will be applied to various sections on the social network on a worldwide basis.
Why It Matters
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="State media outlets expected to be affected by labeling are Russia Today, Sputnik, China’s CCTV, and Xinhua News. ” data-reactid=”25″>State media outlets expected to be affected by labeling are Russia Today, Sputnik, China’s CCTV, and Xinhua News.
A Russia Today spokesperson told CNBC that Facebook was “telling the entire rest of the world what it can and cannot say, is the definition of a technological dictatorship and censorship.”
Facebook generated $70 billion in ad revenue in 2019, but it rarely carries advertisements from foreign state media in the U.S.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The decision to block foreign government ads comes after CEO Mark Zuckerberg refused to moderate President Donald Trump’s controversial posts on countrywide raging protests against the killing of George Floyd.” data-reactid=”28″>The decision to block foreign government ads comes after CEO Mark Zuckerberg refused to moderate President Donald Trump’s controversial posts on countrywide raging protests against the killing of George Floyd.
Last month, Zuckerberg equated combating electoral interference with an “Arms Race” and claimed the company was now better prepared than even governments in tackling such meddling.
FB Price Action
On Thursday, Facebook shares closed 1.68% lower at $226.29.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”37″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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