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00:02Meta Platforms agreed to pay up to $18 billion over a decade to settle claims by nearly all
00:09U.S. states over teen use of Facebook and Instagram while leaving its core money-making
00:14engine largely untouched, according to Reuters. The settlement does not alter the personalized
00:20feeds or ad targeting that underpin Meta's profits, and the company earned more than $60
00:26billion last year. The agreement could also pressure rivals. About 30% of Meta's payout
00:32and stricter teen restrictions become due only if competitors including TikTok, YouTube,
00:38and Snapchat accept comparable settlements. Meta shares rose about 1% after the settlement,
00:43while Alphabet fell 1.4%, and Snap dropped 8.4%.
00:48For all things money, visit Benzinga.com.
