Why the U.S. government may try to break up Amazon
CBSN
A showdown between Amazon and government regulators over whether it is overly dominant may soon be coming to a head, with the Federal Trade Commission preparing to sue — and possibly break up — the world's largest e-commerce company, according to Politico and Bloomberg.
The retailer, which also operates an advertising agency, shipping network, supermarket chain and movie studio, has become a mainstay in Americans' lives. But its explosive growth, which has made founder Jeff Bezos one of the world's richest people, has also long spurred calls for the company to be reined in, with consumer activists claiming that the behemoth uses monopolistic practices to preserve its stronghold.
For FTC Chair Lina Khan — who first came to prominence while still in law school by writing a paper arguing that Amazon is a monopoly — an effort to fracture the company would amount to a career-defining throw of the dice. Of late, meanwhile, the FTC has lost battles to block high-profile mergers, including Microsoft's $68.7 billion purchase of Activision and Meta's takeover of VR startup Within.
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