Justice Department Opens Antitrust Review of Big Tech Companies
Posted in: Government & Policy at 24/07/2019 20:59
The federal government has turned its full investigative powers toward examining the world’s biggest technology companies, building on a backlash against the industry that has been growing for over a year.
The Justice Department said on Tuesday that it would start an antitrust review into how internet giants had accumulated market power and whether they had acted to reduce competition. Similar inquiries are underway in Congress and at the Federal Trade Commission, which shares antitrust oversight responsibilities with the Justice Department.
Justice Department announces broad antitrust review of big tech
The Department of Justice on Tuesday announced it is opening a wide-ranging antitrust review of “market-leading online platforms,” an unprecedented probe of the tech industry that could heighten calls for Amazon, Facebook and Google to be broken up.
The effort aims to explore “widespread concerns that consumers, businesses, and entrepreneurs have expressed about search, social media, and some retail services online,” according to the agency. It did not mention any major tech giant by name, but its stated interests track closely with Google’s dominance in search, Facebook’s leadership in social media and Amazon’s position as the country’s e-commerce leader. All three control vast amounts of data that give them an edge over smaller rivals, critics say.
US justice department targets big tech firms in antitrust review
The US justice department is opening a broad antitrust review into major technology firms, as criticism over the companies’ growing reach and power heats up.
The investigation will focus on growing complaints that the companies are unlawfully stifling competition.