Starbucks (SBUX) announced Sunday in an online statement that it is "pausing" advertisements on all social-media platforms, two days after consumer-products conglomerate Unilever (UNA.AE) said it was halting U.S. advertising on Facebook (FB) and Twitter (TWTR) through year-end over ineffective policing of hate speech, leading to a sharp Friday selloff in both stocks ( ). The coffee giant said it would "continue discussions internally, with our media partners and with civil-rights organizations in the effort to stop the spread of hate speech." Verizon Communications Inc. (VZ) and ice-cream company Ben & Jerry's, itself a unit of Unilever, had previously pulled advertising from Facebook. Coca-Cola Co. (KO) joined the Facebook ad boycott Friday. Facebook late Friday reversed course and said it would now hide or block content considered hateful or endangering voting ( ), removing a prior exception for politicians.
-Tim Rostan; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 28, 2020 13:46 ET (17:46 GMT)
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