Google offers concessions to avoid U.S. antitrust lawsuit, reports WSJ
The Hindu
Google said it was engaging with concerned regulators and had no plans to exit the ad-tech business
Alphabet Inc’s Google has offered concessions to avoid a potential U.S. antitrust lawsuit alleging that the company abuses its clout in the advertising technology business, the Wall Street Journal reported on Friday, citing people familiar with the matter.
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Google has proposed spinning off parts of its business that auctions and places ads on websites and apps into a separate company under Alphabet that could be valued at tens of billions of dollars, the report added.
Alphabet in a statement to Reuters said that it was engaging with regulators to address their concerns, adding that it has no plans to sell or exit the ad-tech business.
“We’re deeply committed to providing value to a wide array of publisher and advertiser partners in a highly competitive sector,” the Google-parent said.
A spokeswoman for the Justice Department declined comment.
Brandon Kressin, an antitrust lawyer representing publishers and companies in the ad tech space, seemed skeptical that the offer would be sufficient.
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