Gannett sues Google, alleges it monopolizes online ads
NEW YORK :Gannett Co Inc, the largest U.S. newspaper chain, on Tuesday sued Google, accusing the social media company of violating federal antitrust law by trying to monopolize the market for online advertising.
Gannett said this forces publishers to sell more ad space to Google at depressed prices, resulting in"dramatically less revenue for publishers and Google's ad-tech rivals, while Google enjoys exorbitant monopoly profits."It filed its lawsuit five months after the U.S. Department of Justice brought a similar lawsuit against Google over the Mountain View, California-based company's advertising technology.
Google generated $224.5 billion of advertising revenue in 2022, accounting for nearly 80 per cent of Alphabet's overall revenue, and posted an overall $60 billion profit. Gannett said print circulation at its newspapers fell nearly 20 per cent in 2020 and in 2021, and that it has shuttered more than 170 publications since 2019, when it merged with GateHouse Media.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google seeks suppliers to move some Pixel production to India - Bloomberg NewsNEW DELHI :Alphabet Inc's Google has begun early conversations with domestic suppliers to move some production of its Pixel smartphone to India, Bloomberg News reported on Tuesday, citing people familiar with the matter. Global tech giants are eyeing India as a manufacturing hub, shifting away from China afte
Read more »
Through fog and hail: Navy doctor is first S’porean to swim across 192km Hudson River in New YorkHe swam for hours on end to build endurance, and dunked himself in a tub of 17 deg C water weekly to get used to the cold that awaited him. But Dr Chua Jia Long still got a shock when he dipped his toes into New York’s Hudson River for the first time last...
Read more »
Kuwait forms cabinet with new oil minister, finance minister re-appointedDUBAI: Kuwait formed a new government on Sunday (Jun 18) naming Saad Al Barrak as oil minister to replace Bader Al-Mulla and reappointing Finance Minister Manaf Abdulaziz Al Hajri. Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced
Read more »
New Pixar film 'Elemental' opens weak for DisneyLOS ANGELES : Pixar's new animated movie 'Elemental' debuted with $30 million in ticket sales at U.S. and Canadian box offices over the weekend, according to estimates from distributor Walt Disney Co on Sunday. The opening fell shy of box office forecasts and ranked among the lowest ever for a film from
Read more »
Voting ends in Mali on junta's new constitutionBAMAKO: Voting concluded in Mali on Sunday (Jun 18) on a new constitution in the ruling junta's first electoral test, with insecurity and political disagreement preventing voting in some areas. The west African nation has been under military rule since an August 2020 coup but strongman leader Colonel Assim
Read more »
Lions produce stale performance in 2-2 draw with Papua New GuineaLions coach Takayuki Nishigaya would have hoped for his first match at the National Stadium to be a happy homecoming. But for all of his team’s perspiration, there were little moments of inspiration as the Lions were held 2-2 by Papua New Guinea in Friday’s...
Read more »