Posted by alphaatlas 10:30 AM (CDT)
Wednesday March 20, 2019
The European commission has reportedly slapped Google with a 1.49 billion Euro (or $1.69 billion USD) fine for "abusing its monopoly in online advertising." More specifically, the report alleges that Google prevented companies that using its search service from running any third party adverts, and the commission claims that "Google's rivals were not able to compete on the merits, either because there was an outright prohibition for them to appear on publisher websites or because Google reserved for itself by far the most valuable commercial space on those websites, while at the same time controlling how rival search adverts could appear." Google apparently changed these practices in 2016, but it took some time for the repercussions to catch up with them.
Margrethe Vestager, the EU's competition commissioner, said: "Google has cemented its dominance in online search adverts and shielded itself from competitive pressure by imposing anti-competitive contractual restrictions on third-party websites. This is illegal under EU antitrust rules. The misconduct lasted over 10 years and denied other companies the possibility to compete on the merits and to innovate - and consumers the benefits of competition."