New Legislation Will Profit Large Canadian Media Outlets by Over $300 Million, Says PBO

Parliamentary Budget Officer Yves Giroux waits to appear before the House of Commons Finance Committee on Parliament Hill in Ottawa on March 10, 2020. The Canadian Press/Adrian Wyld

New legislation will profit large Canadian media outlets and publishers by upwards of $329 million in government subsidies, if passed, according to Parliamentary Budget Officer (PBO) Yves Giroux.

“We expect news businesses to receive a total compensation around $329.2 million per annum from digital platforms and spend about $20.8 million in transaction and compliance costs for negotiating their first deals under the Bill,” wrote the PBO in his “Cost Estimate for Bill C-18: Online News Act,” as first reported by Blacklock’s Reporter.