News has just dropped that Google has been hit with an antitrust lawsuit. Actually, it’s the second one in two years that has Google has been served up with. CNBC has the details:
This lawsuit, which is focused on Google’s online advertising business and seeks to make Google divest parts of the business, is the first against the company filed under the Biden administration. The department’s earlier lawsuit, filed in October 2020 under the Trump administration, accused Google of using its alleged monopoly power to cut off competition for internet search through exclusionary agreements. That case is expected to go to trial in September.
Google’s advertising business generated $54.5 billion in the quarter ended Sept. 30 from Search, YouTube, Google Network ads and other advertising.
Google also faces three other antitrust lawsuits from large groups of state attorneys general, including one focused on its advertising business led by Texas Attorney General Ken Paxton.
The states of California, Colorado, Connecticut, New Jersey, New York, Rhode Island, Tennessee and Virginia joined the DOJ in the latest lawsuit.
This is likely a sign of things to come as big tech is in the crosshairs of the US Government. Companies like Microsoft and Apple are likely to get served with similar lawsuits at some point. But in the here and now, execs at Google must be not be very happy about this.