Paul Stenhouse: Motion Picture Association of Canada ask courts to ditch local news funding rule, Amazon breaks into luxury department store game

Saturday Morning with Jack Tame

Netflix, Paramount ask Canadian courts to ditch local news funding rule

The new 5% tax —called the Online Streaming Act— which is to go into effect on September 1 is targeted at streaming services who pull in more than C$25m and aren't affiliated with domestic broadcasters. The expected $200m in funds will go towards creating local content, including supporting Black and Indigenous creators.

The Motion Picture Association of Canada, who represent studios including Netflix, Paramount & Disney, say they support the law, but there's also a component to fund local news content which they have asked the courts to strike out. They say this news content mandate is "unreasonable" and "is neither appropriate in consideration of the nature of the services they provide, nor equitable.”

Amazon has got into the luxury department store game

The parent of Saks Fifth Avenue, in a partnership with Amazon, will buy its rival department store chain Neiman Marcus in a US$2.65 billion deal. Amazon will take a minority stake in the new company, called Saks Global, and will provide technology and logistical expertise, according to the Wall Street Journal said. Salesforce is also part of the deal - which is a departure from their usual investments in software startups. Commentators say the luxury market is an area Amazon has been struggling to break into.

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