Verizon announced on Thursday it will pull advertisements from Facebook and Instagram, per the company's chief media officer.
Why it matters: Verizon is one of the largest companies to join a growing boycott of the social network over its content moderation policies, including how it polices misinformation about Black Lives Matter protests, and handles content posted by President Trump..
What they're saying: “We have strict content policies in place and have zero tolerance when they are breached, we take action,” Verizon’s chief media officer John Nitti told Axios in a statement. “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with what we’ve done with YouTube and other partners.”
- “We respect any brand’s decision, and remain focused on the important work of removing hate speech and providing critical voting information," Facebook's VP of Global Marketing Solutions Carolyn Everson said in a statement to Axios. "Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good."
Catch up quick: Six civil rights groups, including the Anti-Defamation League and NAACP, began urging marketers last week to stop buying Facebook ads, using the hashtag #stophateforprofit.
- Verizon's announcement was first reported by CNBC's Megan Graham.
Our thought bubble, via Axios' Ina Fried: While best known for providing cell and wired internet service, Verizon owns AOL and Yahoo and aims to compete with Facebook for digital ad dollars.
Go deeper: Facebook takes down Trump campaign ads with symbol once used by Nazis
