The U.S. Justice Department is considering possible sanctions against Alphabet-owned Google (NASDAQ:GOOGL), including breaking up the search giant, after a landmark antitrust case found the group guilty of abusing its dominant position of the market.
The Justice Department is “considering behavioral and structural remedies” that would prevent Google from using products such as its web browser, app store or operating system to gain an advantage in the search business over its competitors, according to a filing in federal court on Tuesday. The officials also suggested that Amit Mehta, the US judge presiding over the case, could force Google to reveal the underlying data used to build its search engine and artificial intelligence products.
“For more than a decade, Google has controlled the most popular distribution channels, leaving rivals with little or no incentive to compete for users,” the Justice Department added.
Google responded in a blog post, warning that the proposal could have detrimental effects on both “American innovation and American consumers.”
The DOJ filing comes after Mehta said in August that the tech giant is a “monopoly,” arguing that it paid companies like phone makers and web browser operators billions of dollars to make Google the default search option.
Mehta has scheduled hearings on the treatment applications for April next year and aims to issue a decision by August 2025, the Financial Times reported. Google, meanwhile, has vowed to appeal the decision all the way to the US Supreme Court, the newspaper said.
A number of Google’s smaller rivals, including Yelp (NYSE:YELP), DuckDuckGo and adMarketplace, had asked to sell some of Google’s units. The company controls about 90% of all internet searches in the US.
Shares of Alphabet (NASDAQ:GOOG) fell in premarket trading in the US on Wednesday. They’re up just under 19% so far this year, giving Alphabet a market value of about $2.03 trillion. dollars and making it the fourth largest listed company in the world.
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Reference;
Kanowsky, S. (2024) US DOJ proposes Google break-up in landmark search monopoly case By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/us-doj-proposes-google-breakup-as-solution-in-monopoly-case-bloomberg-3654508 (Accessed: 9 October 2024).
