EU, Meta Agree to July Stress Test on EU Online Content Rules

EU flag and Meta logo are seen in this illustration taken, May 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
EU flag and Meta logo are seen in this illustration taken, May 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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EU, Meta Agree to July Stress Test on EU Online Content Rules

EU flag and Meta logo are seen in this illustration taken, May 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
EU flag and Meta logo are seen in this illustration taken, May 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Meta (META.O) and the European Union (EU) have agreed on a stress test in July on the EU's online content rules, following EU industry chief Thierry Breton's demand that the social media platform act immediately over Meta's content targeting children.

"Productive discussion with Meta CEO Mark Zuckerberg in Menlo Park on EU digital rules: DSA, DMA & AI Act," Reuters quoted Breton's tweet.

"1,000 Meta employees are working on the Digital Services Act (DSA)," it added.

Breton had earlier in June said that Meta would have to demonstrate the measures it plans to take to comply with European Union online content rules known as the Digital Services Act (DSA) after Aug. 25 or face heavy sanctions.

The DSA bans certain types of targeted advertisements on online platforms such as those meant for children or when they use special categories of personal data, such as ethnicity, and political views.



Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
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Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo

Getty Images said on Tuesday it will merge with rival Shutterstock to create a $3.7 billion stock image powerhouse in a deal that would help the companies navigate the AI era, but likely attract antitrust scrutiny.

Shutterstock's shares were up 9.9% in premarket trading, while shares of Getty Images were up 18.7%, according to Reuters.

The combined company will be named Getty Images Holdings Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY".

At close, Getty Images' CEO, Craig Peters, will serve as CEO of the combined company.

Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.