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Stock impact report

Streaming giants challenge new Canadian revenue-sharing rules [Yahoo! Finance]

Walt Disney Company (The) (DIS) 
Last walt disney company (the) earnings: 2/4 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
news, saying Canada's federal government had acted unreasonably and provided no legal basis for the demand. The Canadian Radio-television and Telecommunications Commission (CRTC), the national broadcasting regulator, said in June that major online streaming services must contribute 5% of their Canadian revenues to support the domestic broadcasting system, including news generation. The Motion Picture Association-Canada, which represents Netflix, Walt Disney Co and other companies, has filed applications in a federal court for leave to appeal the rules and ask for a judicial review. "The decision does not reveal any basis for the CRTC's conclusion that it is appropriate to require foreign online undertakings to contribute to news production," it said in a legal filing. "The CRTC acted unreasonably in compelling foreign online undertakings to contribute monies to support news production." The CRTC said the funding would be directed to areas of what it called immediate need in Show less Read more
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