Illustration: Sarah Grillo/Axios

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.

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

Go deeper

Biden launches $280 million ad push

Photo: Mark Makela/Getty Images

Joe Biden's campaign is launching a $280 million TV and digital ad campaign heading into the fall, targeting 15 states with a message — delivered directly from Biden — about the coronavirus pandemic and the economy.

Why it matters: The size of the buy, which advisers described on a call with reporters Tuesday night, signals a campaign that isn't worried about burning through cash — and it may force the Trump campaign, or associated super PACs, to increase their spending in response.

3 hours ago - World

Macron visits Beirut promising a "new political pact" for Lebanon

Macron visits the hard-hit Gemmayzeh neighborhood. Photo: AFP via Getty Images

French President Emmanuel Macron walked through the blast-damaged streets of Beirut on Thursday, swarmed by people chanting for the fall of Lebanon's government and pleading for international aid.

Why it matters: Lebanon is at a breaking point. Its economy was collapsing and its government hardly functioning — all before a massive explosion destroyed swathes of the capital city, including its vital port.

3 hours ago - Sports

The PGA Championship is golf's first major in over a year

Photo: Gary Kellner/PGA of America via Getty Images

The 2020 PGA Championship tees off Thursday at San Francisco's TPC Harding Park, which is hosting its first-ever major.

Why it matters: It's the first major in more than a year — and the first of seven majors in the next 12 months. Though there won't be any fans in attendance, the excitement is palpable.