unit Google could face its biggest regulatory threat, with EU antitrust regulators set to open a formal investigation into its lucrative digital advertising business before the end of the year, said people familiar with the matter.
Google made $147 billion in revenue from online ads last year, more than any other company in the world. Ads on its properties, including search, YouTube and Gmail, accounted for the bulk of sales and profits. France last week settled with Google for $268 million and various commitments over similar allegations related to the network business, and the unit also must work closely with Britain's competition regulator on upcoming software changes as part of a settlement reached days later.A sign is seen at the entrance to the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021. REUTERS/Shannon StapletonThe Commission declined to comment.
They say Google takes advantage of the dependence buyers, sellers and intermediaries have on it to extract high fees from all sides and block rivals from fairly competing with it.
google: buy ads from us. business: how do we know how well they're doing? google: we'll tell you. business: isn't that a conflict of interest? google: ...