Disadvantaged in the advertising business?
European media companies are suing Google
February 29, 2024, 1:03 a.m
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For years, Google has been accused of distorting competition in the advertising business. The limit is now full for more than 30 news companies. They are taking the US company to court.
In the dispute over alleged discrimination in the advertising business, Axel Springer and other European media companies are taking Google to court. “More than 30 European news media companies today filed a €2.1 billion damages lawsuit against Google over its adtech practices,” said law firm Geradin Partners. The lawsuit was filed in a court in Amsterdam.
The plaintiffs accuse Google of unfair practices in the so-called adtech area, the software behind the online advertising business. The US group has been accused for years of gaining an advantage over rivals in advertising services and thus distorting competition. The EU Commission also initiated proceedings. A spokeswoman for Axel Springer said the lawsuit was about “advocating for a fair competitive environment.”
A Google spokesperson said: “The present lawsuit is speculative and questionable in nature, and we will pursue it vigorously and substantively.” Google works in partnership with media companies in the UK and across Europe. In this collaboration, advertising technology is also constantly being developed. Google’s advertising business is by far the most important business area for parent company Alphabet. In the final quarter of 2023 alone, the group had revenues of $65.5 billion.