Australia targets social media with parliamentary probe [Reuters]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Reuters
SYDNEY, May 10 (Reuters) - Australia announced on Friday that it would hold a parliamentary inquiry to look into the negative impacts of social media platforms, saying they have significant reach and control over what Australians see online, with almost no scrutiny. The government has criticised social media platforms for not being quick enough to remove violent posts and seeks more oversight over content posted on Meta's Facebook, ByteDance's TikTok and Elon Musk-owned X. "Across a range of issues, whether it be the issue of domestic violence, whether it be the radicalisation of our young people, across a range of areas, something that keeps popping up over and over again is the role of social media," Prime Minister Anthony Albanese told reporters. "(They) can be very positive but also can have a negative influence which is there." Albanese's Labor government is already in a with Musk's X over a regulatory order asking the platform to take down videos of the stabbing attack
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META
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- 2/1/24 - Beat
META
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- 5/17/24 - Form 4
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- META's page on the SEC website