US DOJ Contemplates Second Antitrust Lawsuit On Google: WSJ

  • The U.S. Justice Department plans to slap a second anti-competitive lawsuit against Alphabet Inc's GOOG GOOGL over its digital advertising business, Bloomberg reports.
  • The Trump government-led scrutiny into Google's ad tech market dominance alleged exclusive distribution deals with wireless carriers and phone makers to thwart competition.
  • A group of state attorneys alleged Google of conspiring with Facebook Inc FB to manipulate the online auctions. It also became a subject of the DOJ investigation.
  • Google had denied all the allegations citing Amazon.com Inc AMZNComcast Corp CMCSA, and Facebook's market presence.
  • Google owns significant pieces of the online ad market. It runs an ad-buying service for marketers, an ad-selling one for publishers, and a trading exchange that operates like online stock-trading platforms with an automated bidding process.
  • The ad-tech products generated $23 billion in gross revenue for Google in 2020.
  • Price Action: GOOG shares traded lower by 0.49% at $2,902.42 in the market session on the last check Thursday.
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Posted In: GovernmentNewsRegulationsLegalTechMediaBriefsU.S. Department of JusticeWall Street Journal
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