According to a newly unsealed court filing by states Google takes up to 42% of the money paid for digital ads published online. The filing claims the search and advertising giant abuses its monopoly power in online advertising to limit competition and harm consumers, reported Bloomberg.
The Alphabet unit runs the biggest electronic marketplace in the world, according to the states, processing 11 billion online ad spaces every day through its AdX exchange.
More daily transactions are made on AdX than on the NYSE and NASDAQ combined,” a group of 16 states and Puerto Rico said in their complaint, saying they were quoting “Google’s own words.”
The document was filed in August, with redactions to shield information that could be commercially sensitive. It was refiled in a mostly un-redacted form Friday, after a judge in Manhattan ruled last week that most of the material should be publicly available.
“Google now uses its immense market power to extract a very high tax of 22 to 42% of the ad dollars otherwise flowing to the countless online publishers and content producers such as online newspapers, cooking websites, and blogs who survive by selling advertisements on their websites and apps,” the states said in the unredacted filing.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Antitrust Lawsuit Targets RTX’s Pratt & Whitney Canada
May 14, 2024 by
CPI
Former Sales Pro Admits to Bid Rigging Targeting US Schools
May 13, 2024 by
CPI
Macron Advocates EU Financial Integration Amid Push for Global Competitiveness
May 13, 2024 by
CPI
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI