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What will be the outcome of the FTC's push to restore competition in Google's app store by the end of 2024?
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Story
DOJ Considers Breaking Up Alphabet Inc.'s Google After Search Market Antitrust Ruling
Aug 13, 2024, 08:35 PM
The U.S. Department of Justice is considering the rare move to break up Alphabet Inc.'s Google following a landmark court ruling that found the company monopolized the online search market. This decision comes amid broader scrutiny of Google's business practices, including its app store operations and its $20 billion/year payments to Apple to maintain its search engine as the default on iPhones. The Federal Trade Commission has also urged a California judge to restore competition in Google's app store, following a jury finding that Google illegally monopolized this market. The case was filed by Epic Games. As part of the potential breakup, the Justice Department is reviewing options such as forcing Google to divest key units like Android and Chrome or banning exclusive contracts. Google's shares have reacted to these developments, showing a decline in after-hours trading.
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