Facebook owner Meta may remove news from platform if U.S. Congress passes media bill

Facebook parent Meta Platforms Inc (META.O) on Monday threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively with companies like Alphabet Inc's (GOOGL.O) Google and Facebook.

Sources briefed on the matter said lawmakers are considering adding the Journalism Competition and Preservation Act to a must-pass annual defense bill as way to help the struggling local news industry.

Meta spokesperson Andy Stone in a tweet said the company would be forced to consider removing news if the law was passed "rather than submit to government-mandated negotiations that unfairly disregard any value we provide to news outlets through increased traffic and subscriptions."

He added the proposal fails to recognize that publishers and broadcasters put content on the platform because "it benefits their bottom line - not the other way around."