Facebook Inc. (FB) shares dipped 1.4% in extended trading Thursday after Verizon Communications Inc. (VZ) became the latest high-profile company to pull advertising over how Facebook polices misinformation and hateful speech. A Verizon spokesperson said the decision was made until Facebook and Instagram "can create an acceptable solution that makes us comfortable." In recent days, Ben & Jerry's, Patagonia, Recreational Equipment Inc., and others said they plan to pause advertising on the social-networking giant, which depends almost entirely on ads for revenue. Last week, six organizations called on Facebook advertisers to suspend ad spending in July. The groups are the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press, and Common Sense.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 25, 2020 18:14 ET (22:14 GMT)
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