Telstra shares are down amid a new court order.
The post Telstra (ASX:TLS) share price struggles amid new court order appeared first on The Motley Fool Australia. –
The Telstra Corporation Ltd (ASX: TLS) share price struggled today as the telco comes to terms with a new court order.
Telstra is one of the country’s main enablers of people and households to connect to the internet.
Illegal streaming ban
Despite ‘illegal streaming’ already being illegal, there has been a further strengthening of rules against the activity.
According to reporting by The Australian, a group of television stations and movie businesses has won a ban against a large number of websites that are infringing, or facilitating the infringement, of copyright in large numbers of cinematograph films.
A wide array of sites has been banned and various telcos – around 50 – must enact this ban including Telstra, Optus and TPG Telecom Ltd (ASX: TPG) (which includes Vodafone).
Some of the media businesses that are seeking to defend their copyright, according to The Australian, are Roadshow Cinemas, Disney Enterprises, Paramount Pictures, Columbia Pictures, Universal Studios, Warner Bros, Netflix, Television Broadcasts and TVB.
Interestingly, there were no Australian media product companies part of the action to defend copyright. That means that was no representation from Seven West Media Ltd (ASX: SWM) or Nine Entertainment Co Holdings Ltd (ASX: NEC).
The new rules will mean that telecommunications companies block access to the IP address of loads of illegal streaming sites. They have a week to block access to the sites, though plenty of them have already taken action.
None of the streaming sites responded to requests to make an appearance or respond about the matter.
The Australian reported that Justice Nicholas said:
I am satisfied that the applicants have made reasonable efforts to determine the identity and address of the persons who operate the relevant websites, and to give them notice of this proceeding and the orders sought.
The evidence satisfies me that each of the target online locations identified in the applicants’ proposed orders infringes or facilitates the infringement of the applicants’ copyright in various well-known cinematograph films.
The judge also decided to give companies the power to return to court if new websites are discovered under the same ‘brand’ as those blocked.
The Australian also reported that if streaming sites don’t respond then the court can wave through the banning without any oral hearing.
Telstra share price snapshot
Whilst the Telstra share price hasn’t moved much over the last month, it has gone up 15% in the past six months and 37% in 2021.
The post Telstra (ASX:TLS) share price struggles amid new court order appeared first on The Motley Fool Australia.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.