The UK’s Competition and Markets Authority (CMA) plans to launch anti-trust investigations into Google, Facebook and other massive tech companies after calling them “too powerful” in the UK media market.
CMA chief executive Andrea Coscelli noted that Facebook and Google held around 80% of the UK advertising market, and that Google itself currently holds 90% of the search engine advertising market.
The CMA plans to introduce policies that would increase market share of the online advertising market to other smaller companies, while also instituting regulations that would see a stop to “anti-competitive behavior”. To achieve this, the CMA will introduce the Digital Market Unit (DMU), an arm of the CMA designed to monitor and police large online advertising and social media companies.
Facebook recently attempted to block the sharing and publishing of news content in Australia following a proposed law that would force Google and Facebook to bid for content from local news organizations. UK’s Prime Minister Boris Johnson noted that this news was “concerning”.
Google and Facebook now face scrutiny from multiple other nations, with Google being hit with a nearly 1.5 billion Euro fine in 2019, and Facebook now facing allegations of illegal competition buys from 45 US state prosecutors.
© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.