Legislation designed to help media organizations negotiate with major online platforms is gaining Republican support in Congress due to provisions protecting small, local and conservative publications, the Daily Caller News Foundation has learned.
The Journalism and Competition Preservation Act (JCPA), a bill led by a bipartisan coalition of lawmakers including Democratic Minnesota Sen. Amy Klobuchar, Republican Louisiana Sen. John Kennedy, Democratic Rhode Island Rep. David Cicilline and Republican Colorado Rep. Ken Buck, seeks to help media organizations negotiate with tech platforms like Google and Facebook for compensation over the use of their content.
Two conservative tech advocacy groups sent a letter to House lawmakers criticizing former national security officials for attempting to prevent the passage of antitrust bills targeting Big Tech.
The letter, sent by the Internet Accountability Project (IAP) and the American Principles Project (APP) to House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy along with lawmakers responsible for overseeing antitrust legislation, urged Congress to pass six bills targeting major tech companies advanced beyond the House Judiciary Committee in June. The letter also criticized twelve former intelligence officials who sent a letter to House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy arguing against the passage of antitrust bills in mid-September.
Facebook’s market capitalization, or total dollar value, closed above $1 trillion for the first time ever Monday, making it the fifth U.S. company to reach such size.
Facebook exceeded the $1 trillion mark after a year in which the company experienced massive user and earnings growth, CNBC reported. Apple, Alphabet, Microsoft and Amazon – all fellow Big Tech companies – are the only other U.S. companies that have also surpassed $1 trillion in market capitalization, according to Axios.