The bill would require Meta and Google to discuss advertising deals and charge news publishing houses for their information.
The “Online News Act,” or House of Commons bill C-18, was implemented in April of last year.
The Canadian news media industry has pressed the government regarding more regulatory oversight of tech businesses.
Facebook expressed concern about the legislation as well as warned that it could potentially be pressured to inhibit news-sharing on its platform.
New Zealand as well as Australia have questioned businesses like Facebook and Google to pay news publishing houses for material featured on their portals.
The move follows Google’s recent tests on news censorship and both firms’ ongoing expansion of their market share in branding.
The Canadian news media industry has called for more regulatory oversight of tech businesses.