32 media groups, including Axel Springer and Schibsted, filed a 2.1-billion-euro lawsuit against Alphabet's Google, alleging losses due to unfair practices in digital advertising. They claim Google's dominance led to a less competitive market, resulting in lower revenues for publishers and higher fees for ad tech services. Citing previous fines and charges from European authorities, they argue Google abused its dominant position. The lawsuit was filed in a Dutch court to streamline claims and capitalize on the country's reputation for handling antitrust damages in Europe. Other notable members of the group include Krone, DPG Media, Mediahuis, TV2 Danmark A/S, Sanoma, Agora, Prensa Iberica, and Ringier.
https://www.cnbc.com/2024/02/28/google-hit-with-2point3-billion-lawsuit-by-axel-springer-other-media-groups-.html
3 comments:
This is definitely an interesting situation and I'm curious to see how it plays out. I wonder if Google will change any of their practices after this is all settled. In a capitalist market though, it's hard for any shareholders at Google to not exploit the market they're in if possible.
Their dominance in advertisement brings concerns on fair competition and market dynamics. Google has such an influential position in the market that leaves me wondering if such lawsuits will actually have a significant outcome.
Google has a dominant play in the industry specifically in media, but I wonder if any other lawsuits will come out for Google including its other apps. For example Gmail, that's like a monopoly in and of itself.
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