Walt Disney Co. (NYSE:DIS) has slashed its Facebook (NASDAQ:FB) advertising spend, DJ reports quoting "people familiar with the situation." This is the latest setback for Facebook as it faces a boycott from companies upset with its handling of hate speech and divisive content.

According to research firm Pathmatics, Disney was Facebook's top U.S. advertiser for the first six months of 2020, spending $210M on Facebook ads for Disney+ in the U.S.

Disney also halted advertising Hulu on Instagram, owned by Facebook. Hulu spent $16M on Instagram from April 15 to June 30.

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