Newspapers say they suffered billion-dollar losses due to alleged anti-competitive practices in the advertising market

Dozens of European media conglomerates sued Google on Wednesday (29.Feb.2024) in 2.1 billion. Newspapers argue that they suffered billion-dollar losses due to alleged monopolizing practices in the internet advertising market. The information is from Reuters.

Among the authors of the action are the German group Axel Springer (owner of Politico It’s from Insider). Companies from Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, Hungary, Luxembourg, Netherlands, Norway, Poland, Spain and Sweden also sign the process.

According to Reuterslawyers for the European group said in a statement that without “abuse” of Google’s dominant position, communication companies belonging to the group would have “received significantly higher advertising revenues and paid lower fees for advertising technology services.”

Spokesperson for big tech American woman said that media processes are “speculative and opportunistic”.

Google faces similar accusations from government entities. In the United States, a company It is accused by the Department of Justice for monopolizing the digital advertising market by signing contracts considered illegal for companies to exclusively use their search engine.

European Union Commission has also accused Google of violating antitrust rules in digital advertising businesses. European bloc stated that the company has a dominant presence in the market for buying and selling ads on the internet.


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