Federal Trade Commission addressed how US antitrust laws apply to acquisitions of nascent or potential competitors by digital platforms.
The testimony noted that many sectors of the economy have experienced significant disruption, which has resulted from the widespread use of technology to support new and evolving business models.
Testifying on behalf of the FTC, Bureau of Competition Director Bruce Hoffman stated, “This hearing focuses on one potential form of conduct that could harm competition in digital technology markets – the acquisition by dominant firms of nascent or potential competitors. This type of behavior, of course, can be just as anticompetitive as any other form of conduct. If a firm buys a nascent rival rather than trying to kill it through other means, that purchase is just as worthy of antitrust scrutiny.”
As part of its commitment to examining the effectiveness of its antitrust enforcement efforts, the Commission has held a series of hearings on competition and consumer protection topics over the last year, the testimony states. Several panels discussed issues relating to technology and the digital economy, including the acquisition of potential or nascent competitors in the digital marketplace.
To address the potential challenges posed by digital industries, the Bureau of Competition recently formed a Technology Task Force, which is actively conducting investigations.
Full Content: FTC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Faces DOJ Antitrust Trial, Publishers Watch Closely for Impact on Ad Market
Sep 9, 2024 by
CPI
India Moves to Challenge Big Tech Power in Digital Markets
Sep 9, 2024 by
CPI
US Tightens Grip on AI: New Reporting Rules for Developers and Cloud Providers
Sep 9, 2024 by
CPI
EU Court to Decide Apple’s €13bn Tax Battle
Sep 9, 2024 by
CPI
Google Lawyer Kevin Yingling Joins Freshfields Amid Antitrust Fight
Sep 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI