Google reportedly offered to spin off ad business into new Alphabet segment to ward off lawsuit – CNBC
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CNBC: Sundar Pichai, CEO of Alphabet and Google being interviewed by Deirdre Bosa.
CNBC
Google has offered to split parts of its ad-tech business into a separate company under its parent company Alphabet to ward off a second expected antitrust lawsuit from the Department of Justice, The Wall Street Journal reported on Friday.
Such a concession would keep the ad business under the Alphabet umbrella but still represent a significant change in the digital advertising landscape, in which Google is a massive player on both sides of the market. While most commonly known for its search engine, Google’s main business is online advertising. Alphabet reported $257 billion in revenue for 2021.
But it’s unclear if the offer would satisfy the DOJ.
The Department’s antitrust chief, Jonathan Kanter, has been adamant that he prefers to go to court rather than accept settlements. Kanter said at a speech at the New York State Bar Association…
Read Full Story: https://www.cnbc.com/2022/07/08/google-offered-to-spin-off-ad-business-to-ward-off-a-new-suit-wsj.html
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