CNBC: Alphabet and Google CEO Sundar Pichai interviewed by Deirdre Bosa.
Google To avoid a second antitrust lawsuit from the Justice Department, we proposed to split part of our ad tech business into another company under the parent company Alphabet. The Wall Street Journal Reported on Friday.
Such concessions will keep the advertising business under the umbrella of the Alphabet, but will still make a big difference in the digital advertising situation. Google Large players on both sides of the market.Most commonly known for its search engine, but Google’s Main business is online advertising.. Alphabet reported revenue of $ 257 billion in 2021.
However, it is unclear whether the offer will satisfy the Justice Ministry.
Jonathan Kanter, head of the agency’s antitrust law, categorically claims that he prefers to go to court rather than accept the settlement. In a January speech to the Antimonopoly Act section of the New York State Bar Association, Mr. Canter said public court opinions were essential to advancing the law.
“In short, we’re looking for remedies, not reconciliation. We can’t compromise on legal violations,” Canter said. Said at that time..
According to a May report, Canter is banned from engaging in Google’s exclusive investigation, but the Justice Department has decided whether to resign himself based on past work for Google’s rivals. Bloomberg Cite an unnamed source. The DOJ has not confirmed the report. But in that case, his colleague who leads the investigation may respect his philosophy.
The journal reported that a new antitrust lawsuit over Google’s advertising technology business could occur shortly this summer, sources said.
A DOJ spokesman declined to comment on CNBC on this report.
A Google spokeswoman said in a CNBC statement, “We have been constructively working with regulators to address concerns.” “As mentioned earlier, we have no plans to sell or withdraw from this business. We are deeply committed to providing value to various publishers and advertiser partners in highly competitive areas.”
Still, according to a journal report, Google’s proposal would include putting the advertising technology business under the same owner rather than selling it altogether. A spokeswoman refused to mention that particular point.
Created in 2015 alphabet Is essentially Google’s holding company, generating almost all of its revenue and profits. Google has always established itself as a technology company and has invested in a wide range of technology areas such as internet search, telephone, artificial intelligence, self-driving cars and health technology.
Google has spun out other businesses, such as self-driving car company Waymo and life sciences company Verily, while still under the umbrella of Alphabet.
Google has been Online advertising market leader For over 10 years. Over the years, we’ve built a number of ad tech tools that enable content publishers to monetize through ads and help ad buyers find the audience they need on Google Search, YouTube, Maps, and other websites on the Internet. I got it.
The new proceedings will add to the already huge legal challenges Google faces over multi-business control.
The DOJ has submitted a long-awaited antitrust law Proceedings Against Google This is the first time that a serious antitrust violation has been filed against Google at the federal level in their home country in 2020.
Google is also facing a proceeding separate from a large coalition of state attorney generals, including one led by Texas. Claim illegal monopoly Of the online advertising market.
The company is also facing scrutiny outside the United States, especially in Europe, where it is charged with multiple competitive fees, including a shopping price comparison service. Supported by the European Court of Justice..