No the opposite. Those sites (G/FB) will be forced to negotiate with the news sites over how much money they now owe them, and the tech companies can't say "no I'm out I don't want to pay X" as that seems to violate the rules passed to the arbiters saying they must reject an offer if it means Canadians get less news.
So meta pulling links is gonna get contested, and they will be forced to hand over a bag of cash to pay for all the linking they have done.